HiPay Group Sees Continued Growth in Q3 2024

HiPay Group, a fintech company specializing in omnichannel payment solutions, reported a 13% increase in revenue for the third quarter of 2024, reaching 17.7 million euros. This marks an 11% growth over the first nine months of the year, with a quarterly payment volume rising by 6% to 2.1 billion euros. The company anticipates sustained annual growth between 7% and 9%, surpassing 70 million euros in revenue for the year.

HiPay's growth is attributed to increased processed flows and a higher revenue to flows ratio, which improved to 0.82% from 0.77% in 2023. The company saw significant expansion in digital markets and Southern Europe, although retail growth in France slowed slightly. New contracts in France, including collaborations with Le Cèdre Rouge and Ski Set, contributed to market momentum.

Looking ahead, HiPay expects operating and net profitability levels to meet or exceed those of 2023. The company's next financial update is scheduled for February 27, 2025.