Rubean AG Achieves Remarkable Sales Growth in Q1 2024

Rubean AG, a Munich-based FinTech enterprise, has reported a significant increase in turnover for the first quarter of 2024. The company's revenues soared by 500% reaching EUR 493,000 compared to the same period in 2023, when it recorded a turnover of EUR 98,000. This surge is attributed to the successful integration of Rubean's software solutions by new, sizeable customers that were onboarded last year.

During this period, Rubean AG expanded its clientele and partnerships, notably forming a strategic alliance with the global payment network, Discover, and entering the German market in collaboration with Global Payments and a major German bank. This expansion is in line with Rubean's goal of boosting its market presence through strategic partnerships.

The company's growth trajectory is further bolstered by a recent agreement with Geopost's subsidiary, SEUR, to implement the Rubean solution across thousands of devices in Spain. Rubean has also optimized its profitability through cost management strategies, trimming expenses by 10 percent from the previous year.

Encouraged by the current performance, Rubean anticipates revenue for 2024 to double compared to 2023, with projections between EUR 2.2 million and EUR 2.5 million. This optimistic outlook is supported by the expected sales performance in the latter half of the year, traditionally stronger in revenue generation for Rubean.