Ви отримали нашу картку від фонду?

Ви отримали
нашу картку від фонду?

Додайте її до свого профілю, щоб стежити за отриманими коштами.

Додайте її до свого профілю, щоб стежити за отриманими коштами.

2019 — a year of records for Conotoxia Holding companies

17 Feb 2020 10:10|Conotoxia.com

Conotoxia Holding companies, including Conotoxia Sp. z o.o. and the Polish currency exchange market leader Cinkciarz.pl, recorded phenomenal growths on their leading products in 2019.

The higher transaction volume and growing revenue — this is how Conotoxia sums up last year financially compared to 2018. Presented below results speak for themselves.

  • In 2019, a turnover on currency exchange transactions increased by approx. 18% compared to 2018, reaching USD 4.8 billion (PLN 18.7 billion) and boosting the Company's revenue by approx. 20%.
  • The result of the Money Transfer service also grew: the volume of the transactions increased by 32% (to USD 620 million, i.e. PLN 2.4 billion) compared to 2018, and revenue grew by 45%.
  • Forex transactions turned out to be a bestseller and recorded a 377% increment in turnover, and Conotoxia Ltd. generated 353% more revenue than in the previous year.
  • In comparison to 2018, the use of cards as a payment method on the web portal last year raised by 2025% in terms of volume, and the average monthly size of such transactions increased by 1000%.
  • The customer base also expanded: in 2019, it grew by 17% compared to 2018.
  • The segment of business customers increased significantly, too. In 2019 business customers were responsible for almost 40% of the turnover.
  • Solutions dedicated for business gained in popularity. The turnover on payments completed within Conotoxia Pay in online stores increased by 1200% in comparison to 2018.
  • Another record was broken with the number of victories in Bloomberg's currency forecasts rankings: Cinkciarz.pl, a company from Conotoxia Holding, triumphed in it 31 times in 2019, being 58 times on the podium.
  • In 2019 Conotoxia Holding managed to optimize relevant indicators: CAC decreased by 45% in comparison to 2018, and each dollar spent on marketing brought the company a 102% higher turnover than in the previous year.
  • Employment in the Conotoxia Holding group remains at similar level as in 2018, and now amounts to 274 in all companies.
  • For the jubilee, 10th year of operations, Holding prepares the premiere of multi-currency cards that will also become available to Conotoxia users in Europe and the U.S.
  • The Group will continue the expansion of the money transfers and payment services in Europe and across the pond.

Over PLN 21 billion of turnover, three and four-digit growth

Although currency exchange remains an essential element of the Conotoxia.com web portal offer, the most significant growth was recorded on two other products, which month after month gain new users. The turnover of money transfers reached over USD 620 million (PLN 2.4 billion) last year, growing by 32% compared to 2018. Revenue was also rising — in this case, it was 45% higher than in the previous year.

Another service that in 2019 broke all the records was Forex. Its launch in December 2017 proved to be a good call. Conotoxia Ltd., a company that provides this service to clients of the Conotoxia.com web portal, last year marked an extraordinary, 377% increase in turnover and 353% higher revenue.

Nevertheless, this does not mean that fintech's customers forgot about the currency exchange. Attractive rates and reliable service still draw new and returning users. In 2019, the turnover on such transactions increased by approx. 18% to over USD 4.8 billion (PLN 18.7 billion), and the Company's revenue increased by 20% compared to 2018.

Customers were more and more willing to use a wide range of payment methods enabled on Conotoxia.com. The volume of card transactions in 2019 increased by 2025% compared to 2018, and the average monthly size of such transactions raised by 1000%.

More & more records: customer base, product portfolio, prestigious awards

Fintech has many loyal customers who have used its services from the moment the web portal took off ten years ago. Additionally, last year the customer base increased by 17%. "I can say with a clear conscience that I am extremely proud of the achievements of Conotoxia Holding companies. Fintechs' fight for the customer is at its best, and many of our competitors lower their margins even to zero. As a consequence, despite the outrageous marketing budgets and external financing, they remain unprofitable for years," comments Marcin Pioro, CEO of Conotoxia Holding.

The business customer segment developed intensively in 2019. Transaction turnover of these clients accounted for almost 40% of the total turnover in 2019. Understandably, in view of such data, the Group continued to develop services dedicated to business. The online payment system for e-commerce, Conotoxia Pay, was gaining popularity. The turnover on transactions completed within this system in online stores increased by 1200% compared to 2018.

2019 for Cinkciarz.pl, a company belonging to Conotoxia Holding, was also a year of great victories in the prestigious Bloomberg's ranking, where the analysts of the world's largest financial institutions fight to win. The currency forecasts prepared by fintech's analysts allowed the Company to triumph 31 times in quarterly competition, and be on the podium 58 times. "Our dominance in Bloomberg's ranking is another reason to be proud," adds Marcin Pioro. "No other institution in the world, that takes part in this classification, had so many 1st and podium places in 2019.”

Optimization is the key

Apart from expanding its product portfolio in 2019, Conotoxia Holding focused on optimization activities. With an excellent result — in 2019, the Group paid for a new transactional user (CAC) 45% less than in 2018, and each dollar spent on marketing generated 102% higher turnover than in the previous year.

"As you can see, we run a healthy business with good quality services that generate revenue. This is, of course, because of our customers. Thanks to them, we can constantly grow, introduce new products, and enter new markets. To both those who have been with us for a long time and new users, I am very grateful," says the CEO.

Conotoxia Holding published recent employment data. The number of employees remains at a similar level as in 2018. Currently, the Group employs 274 specialists.

10th-anniversary plans for 2020

After the record-breaking 2019, it's time to celebrate the 10th's anniversary. The first weeks of the year have already shown that the Holding has no intention to slow down its impressive pace and wants to cross all boundaries in 2020. Also literally — on Conotoxia.com web portal, we can find information about the fact that the Money Transfer service is already available in 41 U.S. states and Washington, D.C., and more will soon join the list. Additionally, this year Conotoxia Pay, an original online payment system for e-commerce, will debut on the U.S. market.

For 2020, Conotoxia Holding has also planned the launch of its multi-currency debit card, which has a chance to become another great hit. The product will also be available to the U.S. and European customers at the turn of the second and third quarter of this year.

"10 years ago, we revolutionized the currency exchange market, moving it to the Internet and offering the most attractive rates on the market. Banks and other industry players followed our example, slowly reducing their foreign exchange commission, which used to be as high as 20%. The market is changing at a dizzying pace, and we are also expanding our offer, but Conotoxia.com has always had the best exchange rates, and this will never change," concludes Pioro.

Services offered at Conotoxia.com are provided by companies belonging to Conotoxia Holding.

Summary 2019

17 Feb 2020 10:10|Conotoxia.com

See also:

10 Feb 2020 10:07

Conotoxia's money transfers available in 41 U.S. states and Washington, D.C.

4 Feb 2020 9:00

Cinkciarz.pl 58 times on the Bloomberg’s podium in 2019

3 Feb 2020 9:30

Conotoxia, Inc. goes at full speed. Its Money Transfer service is already available in 31 U.S. states

31 Jan 2020 9:30

New Trading Accounts types available in Conotoxia

30 Jan 2020 9:30

Mobile payment solution BLIK now available for Conotoxia.com customers

27 Jan 2020 11:18

Conotoxia, Inc. continues to expand its money transfer services in the U.S.

Attractive exchange rates of 27 currencies