World First UK Ltd
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World First UK Ltd - overview
Established
2004
Location
London, England, UK
Primary Industry
Financial Services
About
World First UK Ltd is a financial services company that specializes in providing multi-currency accounts and payment solutions for businesses engaging in international transactions. Founded in 2004, World First UK Ltd is headquartered in London, UK. The company offers innovative financial solutions for global businesses. In February 2019, World First was acquired by Ant Financial Services Group for GBP 547.
9 million from FTV Capital, Industry Ventures, and StepStone Group. Nick Robinson served as the founder, and Peter Scully is the current CEO. Over the years, the company has successfully completed three funding deals, with the most recent being an Add-on round led by Ant Group Co. , Ltd.
WorldFirst provides a multi-currency account that facilitates global business transactions without incurring fees. Clients can receive and manage funds in over 20 currencies, making it ideal for e-commerce businesses operating on platforms like Amazon and AliExpress. The service allows users to conduct transactions in more than 100 currencies across 210 countries, serving a diverse clientele including e-commerce sellers, importers, exporters, and freelancers. Notable offerings include the World Card, which provides competitive foreign exchange rates and supports various transaction types.
In the most recent year, 2023, WorldFirst reported a revenue of GBP 42,995,301. 10 and an EBITDA of GBP 10,888,170. 50. Revenue is generated primarily through transaction fees associated with its currency exchange services and multi-currency account offerings, which include B2B payments and consumer sales.
World First UK Ltd aims to expand its product offerings and geographic reach. The company is designing new products aimed at enhancing user experience in international transactions. The recent funding from Ant Group Co. , Ltd.
will be utilized to support these product developments and facilitate entry into new markets, particularly emphasizing expansion into Asia and the Americas by 2025. The strategic plans reflect a commitment to leveraging technological advancements to optimize service delivery while catering to a growing global clientele.
Current Investors
China Pacific Insurance (Group) Co. Ltd., Ant Group Co., Ltd., China Life Insurance (Group) Company
Primary Industry
Financial Services
Sub Industries
Consumer Finance, e-Financial
Website
www.worldfirst.com
Verticals
FinTech
Company Stage
Add-on
Total Amount Raised
Subscriber access only
World First UK Ltd - timeline of key events
World First UK Ltd - financials
| Fiscal Year Ended | Jan 31, 2010 | Jan 31, 2011 | Jan 31, 2012 | Jan 31, 2013 | Jan 31, 2014 | Jan 31, 2015 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 16, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 958,007,378 | 1,851,047,000 | 2,962,368,000 | 4,706,238,000 | 26,142,000 | 37,868,000 | 56,826,000 | 80,332,000 | 84,578,000 | 71,733,000 | 45,928,000 | 33,117,000 | 47,050,000 | - | - | - |
| % Revenue Growth (YoY) | - | 93.2% | 60.0% | 58.9% | (99.4%) | 44.9% | - | - | 5.3% | (15.2%) | (36.0%) | (27.9%) | 42.1% | - | - | - |
| EBITDA (USD) | 2,172,791 | 3,621,000 | 4,483,000 | 5,451,000 | 7,976,000 | 9,222,000 | 12,341,000 | 13,600,000 | 12,758,000 | 9,018,000 | (37,666,000) | (37,165,000) | (2,378,000) | - | - | - |
| Operating Income (USD) | 2,121,751 | 3,539,000 | 4,391,000 | 5,334,000 | 7,784,000 | 8,829,000 | 10,681,000 | 11,223,000 | 8,298,000 | 5,264,000 | (44,477,000) | (42,541,000) | (7,403,000) | - | - | - |
| Operating Margin | 0.2% | 0.2% | 0.1% | 0.1% | 29.8% | 23.3% | 18.8% | 14.0% | 9.8% | 7.3% | (96.8%) | (128.5%) | (15.7%) | - | - | - |
| % EBITDA Margin | 0.2% | 0.2% | 0.2% | 0.1% | 30.5% | 24.4% | 21.7% | 16.9% | 15.1% | 12.6% | (82.0%) | (112.2%) | (5.1%) | - | - | - |
| NET Income (USD) | 1,640,282 | 2,631,000 | 3,398,000 | 4,293,000 | 5,990,000 | 7,069,000 | 9,336,000 | 6,770,000 | 5,749,000 | (4,028,000) | (41,952,000) | (43,380,000) | (6,413,000) | - | - | - |
| % Net Margin | 0.2% | 0.1% | 0.1% | 0.1% | 22.9% | 18.7% | 16.4% | 8.4% | 6.8% | (5.6%) | (91.3%) | (131.0%) | (13.6%) | - | - | - |
World First UK Ltd - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade Sale | Completed | World First UK Ltd | - | ||||||||
| Growth | Completed | World First UK Ltd | - |
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World First UK Ltd - employee data
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