Top acolades for Moneybookers

Processing firm named the UK's fastest growing private equity-backed venture, and awarded first place in Deloitte Buyout Track 100 based on profit growth

The popular e-cash processing company Moneybookers has been named the fastest growing private equity-backed company by the prestigious financial Deloitte Buyout Track 100.

The Buyout Track 100 league table ranks Britain's 100 private equity-backed companies with the fastest-growing profits (EBITDA). The award is recognition that, while the overall industry has been struggling, Moneybookers has continued to outperform the market - the company is signing up 13 000 new customers a day for its services. Profits grew 177 percent in a year to GBP 13.9 million in 2008 (on which the Buyout Track is based.

The announcement follows further record numbers posted by the company in the past year of operations, during which it has:

* Signed up its 10 millionth Moneybookers eWallet customer for a 64 percent year-on-year growth

* Seen a surge in e-commerce transaction volume of 120 percent (the global trend has been only 15 percent growth).

* Doubled deposits in customer accounts

* Increased staff headcount by over 150 to 400, with much of the growt occurring in 2009.

* Extended its online merchant base from 35 000 to 60 000, including the signing up of major names such as eBay.com, Playfish, Skype and Thomas Cook.

Martin Ott, co-chief executive, said: “The crisis has made us stronger. While other companies have cut back on their spending, we have increased our investment in future growth. The high growth of our business has again been recognised and we are confident that we will build on this momentum in 2010. This award is a testament to the popularity of the Moneybookers eWallet, now used by over ten million customers and whose ease of use and security benefits are attracting over 13 000 new customers every day”.

Moneybookers’ highly competitive offering includes a fully integrated worldwide banking network, with over 80 local payment options in more than 200 countries, all with low transaction fees. In addition, Moneybookers has market-leading security and risk management expertise, which protects customers’ personal data and offers merchants charge-back protection.

Nikolai Riesenkampff, co-chief executive, said: “Our merchants are benefitting from a substantial increase in use of the product, with deposits doubling over the past year and impressive increases in customer conversion rates. Our payment service for business customers comes with industry-leading security and fraud prevention measures. With Moneybookers not only consumers but also merchants can feel secure due to our charge-back protection.”

The company is no stranger to top UK awards; it was recently voted the 6th fastest-growing and the most profitable IT company in the Tech Track 100 and the 2009 Media Momentum Awards (see previous InfoPowa report), where Moneybookers won the Best Execution and Judges’ awards.

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