Prepaid Financial Services
Payments technology and e-money specialist, providing a range of prepaid and alternative banking products.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | £132m Valuation: £132m 1.6x EV/Revenue 22.5x EV/EBITDA | Acquisition | |
| Total Funding | 000k | ||
| GBP | 2015 | 2016 | 2017 | 2018 | 2019 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 56 % | 45 % | 7 % | 44 % | 30 % | - | (38 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | - | 8 % | 7 % | 13 % | 7 % | - | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 7 % | 7 % | 6 % | 11 % | 4 % | 10 % | 25 % |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
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Prepaid Financial Services (PFS), now operating as EML Payments, was established in 2007 by Noel and Valerie Moran. The company carved a niche for itself in the fintech landscape by providing comprehensive white-label payment solutions. Its business model centers on enabling businesses and organizations to offer branded prepaid card programs and other payment services without needing to build the infrastructure from scratch. PFS serves a diverse client base, including financial institutions, corporations, and government bodies across various countries.
The core of PFS's offering revolves around a flexible and scalable payments platform. This platform facilitates a range of services, including prepaid card issuance, e-wallets, and banking-as-a-service (BaaS) functionalities. A key feature is its ability to support multiple currencies, making it a functional tool for international organizations. For instance, the company has provided payment solutions for governmental pandemic unemployment payments and partnered with entities like the UK Post Office to offer international money transfer services. Revenue is generated through fees associated with the setup, management, and transaction processing of these payment programs.
The founders, Noel and Valerie Moran, spearheaded the company's growth from its inception, with Noel Moran serving as the Chief Executive Officer. His entrepreneurial journey with PFS culminated in the company's significant acquisition. In 2019, PFS announced it was being acquired by EML Payments, a publicly listed Australian company, in a high-value deal that underscored the company's success and market position. This acquisition marked a major milestone, integrating PFS's capabilities into EML's broader global payments ecosystem.
Keywords: payment solutions, fintech, prepaid cards, white-label payments, e-wallets, BaaS, payment processing, financial technology, corporate payments, government payments
