SimplyBiz’s revenues have increased markedly following the purchase of Defaqto, the Haddenham-based financial technology firm.
Defaqto was acquired by SimplyBiz in March 2019, in a deal worth £74m. In 2019, SimplyBiz saw an increase in revenues by almost a quarter and a 50 per cent increase in EBITDA growth.
Matt Timmins, joint CEO of SimplyBiz, commented: “The group‘s consistent and recurring income model, and strong forward revenue visibility, continues to provide the board with confidence and optimism as we enter 2020.”