VocaLink
Global payments partner to banks, corporates and governments.
| Date | Investors | Amount | Round |
|---|---|---|---|
£700m Valuation: £700m 3.1x EV/Revenue 32.6x EV/EBITDA | Acquisition | ||
| Total Funding | 000k | ||
| GBP | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 25 % | 18 % | (11 %) | (5 %) | (6 %) | - | (3 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 9 % | 5 % | 2 % | (3 %) | (16 %) | 30 % | 17 % |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 1 % | (7 %) | (8 %) | (19 %) | (32 %) | 11 % | (1 %) |
| 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 |
| R&D % of revenue | - | 6 % | - | 8 % | - | - | - |
Source: Company filings or news article
Related Content
VocaLink, a subsidiary of Mastercard, operates as a critical infrastructure provider within the global payments ecosystem. The company designs, builds, and manages major payment systems, facilitating the seamless flow of money for financial institutions, corporations, and governments. Its history dates back to the establishment of the Bankers' Automated Clearing Services (BACS) in the United Kingdom in 1968, which automated electronic funds transfers. Another key component of its heritage is the LINK Interchange Network, founded in 1986, which created a shared network of ATMs across the UK. VocaLink itself was formed in 2007 through the merger of BACS and the LINK Interchange Network. This strategic combination brought together bulk electronic payments and ATM switching under one entity.
The acquisition by Mastercard in 2017 marked a significant milestone, integrating VocaLink's real-time account-to-account payment capabilities into Mastercard's extensive global network. This move was aimed at creating a more robust and comprehensive suite of payment solutions for a global client base. The company's core business revolves around processing a high volume of transactions with reliability and security. For instance, it processes over 90% of UK salaries, more than 70% of household bills, and nearly all state benefits. In 2021 alone, VocaLink processed 11 billion transactions valued at £8.6 trillion.
VocaLink's product and service portfolio is centered on several key areas. It is the operator of the UK's national payment infrastructure, including Bacs Direct Credit and Direct Debit, the Faster Payments Service (FPS) which enables real-time mobile, internet, and telephone payments, and the LINK ATM network. The Faster Payments Service, a notable achievement, was launched in 2008 and has become a foundational element of the UK's digital economy. Beyond the UK, VocaLink has exported its real-time payments technology internationally, powering systems like The Clearing House's RTP® network in the United States, as well as systems in Singapore and Thailand. Its revenue model is based on transaction fees charged to the financial institutions and other payment service providers that use its infrastructure.
Keywords: payment infrastructure, real-time payments, Bacs, Faster Payments Service, ATM network, account-to-account, payment processing, financial technology, transaction services, clearing house