Home / BUSINESS / Aforti Exchange Romania intermediated currency exchanges worth over EUR 60 M this year

Aforti Exchange Romania intermediated currency exchanges worth over EUR 60 M this year

Aforti Exchange, the first Polish fintech and a foreign exchange platform that entered Romanian market in October 2017, will close 2018 with triple the expected result as it forecasts reaching turnover of more than EUR 60 million for the full year of 2018, the company has announced on Thursday. The Romanian subsidiary company has just closed the best month in its history, having intermediated in November alone currency transactions in the amount of EUR 10,340,590. The result is significant, taking into consideration that the same amount, of estimated EUR 10 million, was processed by Aforti Exchange Romania in the first 6 months of 2018 (January – June 2018).

Between January and November 2018, Aforti Exchange Romania has intermediated currency exchanges in the amount of EUR 57,799,730, noting a significant increase in both the number as well as the value of the transactions carried out through the platform in the second half of 2018. In July 2018, the company has announced its goal to reach EUR 20 million in turnover for the Romanian subsidiary for the full year 2018. Taking into consideration the very strong third and fourth quarters, the company has revised its expectations for Romania and is now expecting to close the year having intermediated currency exchange transactions worth over EUR 60 million.

“Just in one month, in November 2018, we have managed to generate transactions in the amount that we have expected for the whole second half of this year. The rate of growth that we have so far witnessed in Romania has been extraordinary and it has exceeded all of ours as well our shareholders’ expectations. While we are rather cautious when it comes to aggressive forecasts, we do not at present exclude the possibility that soon, namely in 2019, Aforti Exchange Romania will reach the same level of monthly turnover as is currently generated by Aforti Exchange Poland,” said Aleksandra Wodzisławska, President of the Board at Aforti Exchange SA.

In line with the trend we have already identified earlier this year, significant majority (estimated 80%) of transactions carried out through Aforti platform is the exchange of lei into euro, but with the increase in the number of transactions, we have also witnessed an increase of the volumes in some of the less popular currencies, such as Polish złoty, Czech koruna or even Japanese yen,“ said Dorin Sterie, Country Manager at Aforti Exchange Romania.

Headquartered in Warsaw, Poland, Aforti Exchange is part of Aforti Holding, financial group listed on the NewConnect market of the Warsaw Stock Exchange.  Aforti Exchange Romania was the first company within the Group that expanded abroad, followed by Aforti Exchange Bulgaria.

About Romania Journal