Aforti Exchange, a foreign exchange platform based in Poland, has closed 2018, its first full year of activity in Romania, having intermediated EUR 67 million worth of currency transactions. The result, triple the initial expectation, was supported by a very strong 4th quarter as the company processed transactions worth EUR 33 million, double compared to the 3rd quarter. For 2019, Aforti Exchange Romania targets turnover of EUR 200 million, expecting the growth to be supported by investments in the platform as well as expansion of the team.
“Despite the many uncertainties that resulted from the government’s announcement of new fiscal measures at the end of 2018, we do not plan to stop or limit our development plans in Romania. From our perspective, the fintech sector has not been hit as heavily as the banks by the introduction of the new taxes and thus, there is no need to revise our plans or projections. In 2019, our goal is to invest significant capital in the development of the Aforti Exchange platform as well as to double our workforce in Romania. We expect that all the fintech players, including our competition, will do the same since the fintech adoption remains at a relatively low level in Romania and that offers many opportunities for business development”, said Aleksandra Wodzisławska, CEO of Aforti Exchange.
At the Group level, Aforti’s management estimates that it will invest at least EUR 1 million in 2019 in further developing multiple business lines in Romania. For Aforti Exchange, the two major areas of investment will be the development of the online platform as well as expansion of the sales team. The company plans to double its workforce, from 10 to 20 employees and collaborators by the end of 2019. Part of the new staff will join the call center that is expected to be inaugurated in the first quarter of 2019. In order to accommodate the new hires, the company has relocated at the beginning of January to new offices, located in the Aurel Vlaicu area of Bucharest. The new space can accommodate up to 38 employees.
“Expanding our team is one of the key vectors of our planned growth. We believe that by introducing a tele-sales component to our business model, we will be able not only to generate new leads, but also to offer our current clients assistance in understanding all the features that our platform puts at their disposal. The recruitment for the new tele-sales positions have already begun and we plan to have the call center operational by the end of February”, said Dorin-Claudiu Sterie, Country Manager at Aforti Exchange SA.
In terms of product development, in 2019 Aforti Exchange plans to introduce new technical features that will improve the user experience. With the growing volumes, it is also expected that the spreads will improve, and the clients will be able to benefit from even better exchange rates.