The existing shareholders of Valutrades Limited, the London-based entity operating the broker brand Valutrades, have injected £823,499 (about US$1 million) into the company with a fresh share allotment, the latest Companies House filings today (Friday) show. The company will use the funds towards its rebranding.
“The additional capital will be used to support some exciting new developments, including a global rebrand and a totally new technology stack. We can’t wait to share more about these in the coming months,” Graeme Watkins, the CEO of Valutrades, told Finance Magnates.
Graeme Watkins, CEO at Valutrades
The new funding came from existing shareholders led by Anil Bahirwani, the Founder of Valutrades and a couple of other financial services companies. Aman Lakhiani, an existing investor, and Watkins, who has been running the broker since 2015 as the CEO, continue to hold stakes in the brokerage.
The new shares in the company were allocated on 27 September, taking its total share capital to £8.22 million.
Broker’s Revenue Increased Significantly
The Valutrades brand operates with two licenses, one from the United Kingdom’s Financial Conduct Authority and the other from the regulator in the Seychelles. The offerings under both entities are more or less the same: it offers trading services with margin forex and contracts for differences of other asset classes.
The Valutrades website is available in five languages: English, Spanish, Portuguese, Mandarin, and Japanese, which shows that it has extensive clientele across the globe.
Another recent Companies House filing by the UK entity of Valutrades revealed its financials for 2022 when its revenue increased by 45 percent to £6.48 million. Although the company posted a gross profit of £3.5 million compared to £2.2 million in the previous year, its expenses took a huge bite out of that, resulting in the pre-tax profit at £552,405, although it’s still a yearly increase of about 19 percent.
As seen on the income statement of the company, its administrative expenses for 2022 ascended to £3 million from £2.6 million in the previous year. The UK entity ended the year with a net profit of £735,007, compared to a loss of £471,549 in 2021.
“Looking forward, the end of 2022 and the beginning of 2023 has highlighted the volatile nature of monthly income. However, overall year-to-date performance is now where we expect it to be, with a positive March and April,” the filing stated.
“There’s no sign of a slowdown in volatility with recent bank failures the latest factor to continue the increased volatility in global financial markets, and Valutrades expects this to impact positively on Valutrades profitability.”
The existing shareholders of Valutrades Limited, the London-based entity operating the broker brand Valutrades, have injected £823,499 (about US$1 million) into the company with a fresh share allotment, the latest Companies House filings today (Friday) show. The company will use the funds towards its rebranding.
“The additional capital will be used to support some exciting new developments, including a global rebrand and a totally new technology stack. We can’t wait to share more about these in the coming months,” Graeme Watkins, the CEO of Valutrades, told Finance Magnates.
Graeme Watkins, CEO at Valutrades
The new funding came from existing shareholders led by Anil Bahirwani, the Founder of Valutrades and a couple of other financial services companies. Aman Lakhiani, an existing investor, and Watkins, who has been running the broker since 2015 as the CEO, continue to hold stakes in the brokerage.
The new shares in the company were allocated on 27 September, taking its total share capital to £8.22 million.
Broker’s Revenue Increased Significantly
The Valutrades brand operates with two licenses, one from the United Kingdom’s Financial Conduct Authority and the other from the regulator in the Seychelles. The offerings under both entities are more or less the same: it offers trading services with margin forex and contracts for differences of other asset classes.
The Valutrades website is available in five languages: English, Spanish, Portuguese, Mandarin, and Japanese, which shows that it has extensive clientele across the globe.
Another recent Companies House filing by the UK entity of Valutrades revealed its financials for 2022 when its revenue increased by 45 percent to £6.48 million. Although the company posted a gross profit of £3.5 million compared to £2.2 million in the previous year, its expenses took a huge bite out of that, resulting in the pre-tax profit at £552,405, although it’s still a yearly increase of about 19 percent.
As seen on the income statement of the company, its administrative expenses for 2022 ascended to £3 million from £2.6 million in the previous year. The UK entity ended the year with a net profit of £735,007, compared to a loss of £471,549 in 2021.
“Looking forward, the end of 2022 and the beginning of 2023 has highlighted the volatile nature of monthly income. However, overall year-to-date performance is now where we expect it to be, with a positive March and April,” the filing stated.
“There’s no sign of a slowdown in volatility with recent bank failures the latest factor to continue the increased volatility in global financial markets, and Valutrades expects this to impact positively on Valutrades profitability.”