HiPay announces strong revenue growth in H1 2020 (+ 30%)
Strong revenue growth in H1 2020 (+ 30%)
- Turnover1 at the top + 30% compared to June 30, 2019 on a volume of flows processed up by 43%.
- HiPay continues to attract new customers and to grow despite the Covid-19 crisis, thus confirming the resilience of its business model.
- Bpifrance and BNP Paribas announce two State Guaranteed Loans (PGEs) in the amount of 3.6 million euros.
- HiPay continues to innovate by offering new technological solutions to its customers, particularly in the fight against fraud.
Paris, July 30, 2020: HiPay (ISIN code FR0012821916 – HIPAY), the fintech specializing in omnichannel payment solutions, announces revenue of € 21.7 million1 in the first half of 2020, an increase of 30%.
|In millions of euros||June 30, 2020||June 30, 2019||Var. %|
The strong growth in turnover marks an acceleration in the growth rate (+1 growth point vs. 2019) despite a difficult economic context.
The slight erosion of the turnover rate2 which stood at 0.9%, down 0.1 point compared to 2019, can be explained by the development strategy geared towards large accounts which allows a strong increase in the volume of transactions.
The French market, which represents 67% of all volumes managed, remains at the heart of HiPay’s commercial strategy with an increase of + 48% in volume.
- Launch of +310 new European traders including 166 major accounts, demonstrating the success of the premium positioning strategy for large companies.
- Development of the business volume achieved by the franchise networks thanks to the deployment of HiPay solutions within the Cash Express, Speed Burger and Côté Sushi networks.
- Confirmation of the leading position in the furniture and interior design sector with the launch of Gifi, NV Gallery, La Maison du Convertible and Camif.
Improvement of the offer
- Innovation continues with the launch of additional payment scenarios responding to new uses, such as the e-terminal solution implemented at Okaidi and the new features added to remote payment (Mail Order – Telephone Order).
- Deployment of new checkout scenarios to help merchants digitize their point of sale and comply with new physical distancing measures, in partnership with many players in the ecosystem.
- Improvement of the anti-fraud module HiPay Sentinel allow traders to increase their success rate and adapt to the new rules defined by PSD2 (2sd Payment Services Directive).
- Launch of the new HiPay Console management interface, including configuration functions (HiPay Widgets) allow each user to customize their dashboard.
The crisis has not impacted HiPay’s commercial dynamics thanks to its presence in many segments of the e-commerce market. During confinement, the mix between segments changed: some sectors suffered a decline (tourism, fashion, automotive for example) which was offset by segments in strong development during this period (video games, computer equipment, drugstore and large food distribution ).
As of June 30, 2020, the company has € 1.8 million in available cash1.
To this available cash is added the non-mobilized balance of the BJ Invest current account: € 3.7 million.
In addition, HiPay contracted two loans guaranteed by the State with BNP Paribas and Bpifrance for a total amount of 3.6 million euros.
As of June 30, 2020, HiPay thus has a total financing capacity of 9.1 million euros, which enables the Group to ensure its development.
BPI Excellence & Bpifrance Accelerator Program
HiPay was selected as a member of the Bpifrance network of excellence for its performance and growth potential. HiPay is also a stakeholder in the Bpifrance accelerator group for the 2020-21 season, a recognition that allows HiPay to strengthen its links with a large number of companies.
Grégoire Bourdin, CEO of HiPay, declares: “Thanks to the trust of our customers and the efforts of the teams during the first half of the year, the growth in volumes and turnover of HiPay is still on the agenda. In addition, obtaining two loans guaranteed by the State demonstrates the confidence of our banking partners in the development strategy. “
Next financial communication: September 7, 2020 – 2020 half-year results
HiPay is a global provider of payment services. By harnessing the power of payment data, we contribute to the development of our merchants by offering them a 360 ° view of their activity.
HiPay Group is listed on Euronext Paris (ISIN code: FR0012821916 – HIPAY).
More information on hipay.com too find us on Twitter and LinkedIn
Vae Solis Communications
+ 33 (0) 6 50 95 21 45
This press release does not constitute an offer to sell or a solicitation of an offer to buy HiPay Group shares. If you would like more information on HiPay Group, please refer to our website hipay.com, Investors section. This press release may contain forward-looking statements. Although HiPay Group considers that these statements are based on reasonable statements at the date of publication of this press release, they are by their very nature subject to risks and uncertainties which could cause actual results to differ from those indicated or projected in these statements. statements. HiPay Group operates in a constantly changing environment and new risks could potentially emerge. HiPay Group assumes no obligation to update these forward-looking statements, whether to reflect new information, future events or other circumstances.
1 The half-yearly and consolidated financial statements are subject to a limited review by the statutory auditors. Their report will be published after the publication of the half-year results on September 17, 2020.
2 The turnover rate corresponds to the ratio between turnover and flows processed over the same period.