Paysafe Group set to surpass revenue targets in 2015

Paysafe Group, the trading name of Optimal Payments, has said that it expects to surpass market expectations regarding its financial performance during the 12 months through to December 31, 2015.

In an audited trading update, the online payments solutions provider announced that revenue for the 12-month period will amount to approximately $600 million (€550.9 million),

Paysafe said this figure was driven by strong growth across the firm’s product lines during the second half of the year, with revenue in this period said to be around $380 million.

Meanwhile, Paysafe also revealed that adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the full year should amount to approximately $150 million.

This full-year figures comes after the company reported an estimated adjusted EBITDA of $100 million in the second six-month period of the year.

Joel Leonoff, president and chief executive of Paysafe, said: “This has been a transformational year for our business.

“Revenue and underlying earnings have grown strongly and the Skrill acquisition significantly enhances our global scale; the group is now operating in more markets and geographies than ever before.

“We are delivering on the targets we set ourselves as part of our strategy to create a payments powerhouse across digital wallets, payment processing and prepaid products and services.

“Our positive momentum, which continued through the fourth quarter, provides a strong foundation as we head into the new financial year.”

Related article: Paysafe set to begin trading on London Stock Exchange next month