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Viabill reports record profits, eyes European expansion

Thursday 11 April 2024 10:05 CET | News

Viabill, a Danish fintech company specializing in Buy Now Pay Later (BNPL) services, has reported record results for the fiscal year 2022/2023, planning on expansions.

 

Despite global economic challenges and the end of the Zero Interest Rate Policy (ZIRP), Viabill has achieved all-time high consolidated net profits of EUR 5.4 million, based on a group turnover of EUR 22.2 million, according to the 2022/2023 annual report of its parent company, The Holding Co. A/S.

Representatives of Viabill attributed these record results to the company's ability to adapt to changing market conditions and control costs effectively. They emphasized the importance of healthy growth in the BNPL sector, highlighting Viabill's unique position in the European market.

As Viabill approaches its 15th year of operation, they expressed intentions to explore acquisitions as a means of expanding the company's presence beyond Denmark and Spain into a pan-European market. They suggest that many European BNPLs are facing challenges due to outdated business models built around ZIRP conditions, creating opportunities for consolidation within the industry.

Viabill, a Danish fintech company specializing in Buy Now Pay Later (BNPL) services, has reported record results for the fiscal year 2022/2023, planning on expansions.

 

Viabill, founded in 2010, has grown to become a market leader in Denmark with over 270,000 customers. Owned by global venture capital firms like Headline GmbH and various private investors, Viabill aims to challenge existing market leaders with its bottomline-centric approach to BNPL services.

People at Headline GmbH acknowledged Viabill's impressive performance over the past 15 years and sees potential for further growth through European expansion and strategic acquisitions. They believe Viabill's unique business model could pave the way for a new breed of BNPL companies focused on sustainable profitability.

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Keywords: BNPL, expansion, acquisition, growth markets
Categories: Payments & Commerce
Companies: ViaBill
Countries: Europe
This article is part of category

Payments & Commerce

ViaBill

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