Swiss Fintech, Klarpay AG, achieves profit in its first year of operations

ZUG, Switzerland, Feb. 14, 2023 /PRNewswire/ -- Klarpay AG, a pioneering Swiss financial institution, is proud to announce that it has achieved profitability in its first operational year. The company's profitability and the interest from venture capitalists are a testament to its team's hard work and dedication. Klarpay is well-positioned to continue its growth and success in the future.

Despite the challenging economic conditions in the fintech industry and global markets, Klarpay has established a solid foundation and implemented its business model to achieve results. Klarpay experienced steady growth throughout the year, derived from strong demand for its services, closing the year with more than 120 corporate clients. The company reached monthly profitability only six months from launch in August 2022 and sustained this until the end of the year to close with an overall substantial annual profit.

"We are thrilled to have reached this important milestone," says Martynas Bieliauskas, CEO and Co-founder of Klarpay. "Our focus on a sustainable business model sets us apart from many of our peers in the fintech industry who struggle to achieve profitability, especially so early in a company's lifecycle. We are excited to continue building on this success in the coming year."

Klarpay's focus for 2023 will be on continuing its organic operating model as well as maintaining the efficiency of its products and overall service, which has proven to be a key driver of its success. The company has an elegantly designed product built on proprietary software that fills a gap in the market and is committed to delivering innovative solutions that meet the evolving needs of its customers and partners. As evidenced by the recently announced expansion of its international payments offering with the launch of 13 new foreign currency accounts. Klarpay's product roadmap for 2023 and beyond aims to sustain demand and growth to help realise its projected targets.

About Klarpay AG.

Klarpay AG is a leading fintech company offering online businesses access to multi-currency IBAN accounts, global payment acceptance, and digital disbursement solutions. As the first Swiss-licensed fintech company to work exclusively with e-commerce, digital entrepreneurs, and social media influencers, Klarpay seeks to empower digital businesses through borderless, scalable, bespoke business accounts and payment solutions. Founded in 2019, Klarpay AG is a deposit-taking financial institution authorised and regulated by the Swiss Financial Market Supervisory Authority (FINMA) under the Swiss Federal Banking Act, Article 1b.

Media contact:
marketing@klarpay.com
+ 41 41 552 0093
www.klarpay.com

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