DigiAsia Corp. Announces YoY Transaction Volume Growth of 74% Keeping with its Strong Growth Trajectory
Rhea-AI Summary
DigiAsia Corp. (NASDAQ: FAAS), a leading Fintech as a Service ecosystem provider, has reported significant growth in key performance indicators for the full year 2023. The company achieved 7.85 billion transactions, marking a 74% year-over-year increase from 4.5 billion in 2022. Gross transaction value reached $3.625 billion, up from $2.1 billion in 2022. DigiAsia's merchant base expanded to 1 million, a 31.5% growth from 760,100 at the end of 2022. The company also saw a 40% increase in Enterprise Payment and Banking Partners on its platform compared to 48 customers in 2022. Notably, DigiAsia has moved into operational profitability, indicating improved financial performance.
Positive
- 74% year-over-year increase in transaction volume, reaching 7.85 billion transactions in 2023
- 72.6% growth in gross transaction value, reaching $3.625 billion in 2023
- 31.5% increase in merchant base, totaling 1 million merchants
- 40% growth in Enterprise Payment and Banking Partners
- Company achieved operational profitability
Negative
- None.
News Market Reaction – FAAS
In the trading session that priced this news, FAAS declined 2.99%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
~ Company Moves into Operational Profitability
NEW YORK, July 23, 2024 (GLOBE NEWSWIRE) -- DigiAsia Corp. (NASDAQ: FAAS) (“DigiAsia” or the “Company”), a leading Fintech as a Service (“FaaS”) ecosystem provider, today announced key growth highlights of the following KPIs:
- 7.85 billion transactions¹ for the full year 2023, compared to 4.1 billion transactions in the first half of 2023 and 4.5 billion transactions during the full year 2022
$3.625 billion gross transaction value for the full year 2023, compared to$1.6 billion in the first half of 2023 and$2.1 billion gross transaction value in the full year 2022- 1 million total merchants on the platform, growth of
31.5% , compared to 760,100 merchants at the end of 2022 40% increase in Enterprise Payment and Banking Partners on the platform, up significantly compared to 48 customers in 2022
Forward-Looking Statements:
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements including, but not limited to, statements concerning DigiAsia and the Company’s operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. DigiAsia cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world including those discussed in DigiAsia’s Form 20-F under the headings “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business Overview” and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date it is made and DigiAsia specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.
DigiAsia Company Contact:
Subir Lohani
Chief Financial Officer and Chief Strategy Officer
646-480-0142
Investor Contact:
MZ North America
Email: FAAS@mzgroup.us
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¹ Includes # of API hits
