Fintel plc reported strong financial results for 2024, ending the year on 31st December with an increase in core revenue to £68.9m, up 22% from £56.6m in 2023.
This was bolstered by £15.0m from newly acquired assets.
Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 8.5% to £22.2m, reflecting investments in expanding their products and services.
Software as a Service (SaaS) and subscription revenues grew by 17% to £44.1m.
The company completed four acquisitions during the year, investing £16.6m and gaining an additional core revenue of £7.5m.
While Fintel’s balance sheet showed a cash decrease to £6.3m from £12.7m, the company maintains £50m of headroom in an £80m revolving credit facility, ensuring future investment capabilities.
Net debt rose to £23.7m, maintaining leverage at a comfortable 1.1x, influenced by acquisition spending and investment efforts.
Adjusted earnings per share increased to 13.2 pence from 12.2 pence, with a proposed final dividend rising to 3.65 pence per share, up 5.8% from last year.
Strategically, Fintel achieved significant growth in core activities, with SaaS and subscription revenue reaching £44.1m, aided by targeted acquisitions.
Software license revenues also expanded due to a broadened proprietary technology platform, while its fintech and research revenues climbed 14.5% to £25.4m.
Additionally, Fintel executed four strategic acquisitions in 2024, enhancing services and IP through mergers and acquisitions (M&A).
They also completed a further acquisition in 2025, continuing their strategy of scale growth.
Acquisitions included Owen James, Synaptic Software, ifaDASH, and Threesixty Services, with each serving to expand Fintel’s offerings in events, planning and research tools, regulatory tech, and compliance services, respectively.
The acquisition of Rayner Spencer Mills Research on 7th January 2025 further strengthened its fund research and ratings platforms under Defaqto.
In technology and services, Fintel launched Matrix 360 in January 2025, a tool to optimise insurance product design.
Other technological advancements included a protection quote and apply platform, digitised back-office solutions, an expanded product and risk ratings platform, and new strategic events.
Fintel starts 2025 positively, aligning with Board expectations and having onboarded six new clients to Matrix 360.
The company remains confident in further strategic and financial progress, leveraging recent acquisitions and synergies for ongoing growth.
Matt Timmins, joint CEO of Fintel, said: “2024 has been a seminal year for Fintel, marked by continued strategic advancements and strong financial performance.
“We’ve seen growth across our four key metrics, both financially and in our overall business operations.
“The company has delivered robust results, with complementary acquisitions contributing to substantial growth in SaaS and subscription-based revenues.
“We have expanded the Fintel group by welcoming four new businesses in 2024, with the previously announced acquisition of RSMR successfully completing in January 2025.”
Timmins added: “These strategic acquisitions, combined with ongoing investments in our proprietary technology and data solutions, have enhanced our intellectual property, scale, and market presence, laying the foundation for sustained organic growth.
“Looking ahead, we remain confident in our ability to achieve further progress.”
He said: “There has never been a time when independent financial advice is more needed.
“We have started the year positively, trading in line with Board expectations, and onboarding six new customers to our Matrix 360 market intelligence software.
“With our comprehensive technology platform strongly positioned to capitalise on further growth opportunities within the fragmented retail financial services sector, we see material opportunities for value creation across our family of brands.”
