LONDON, May 4, 2020 /PRNewswire/ -- UK-headquartered and award-winning global financial technology company TigerWit is pleased to announce that it has achieved record revenues of US$27.5m for their financial year ended 31st March 2020, up 24% from 2018/19. TigerWit has also increased its global network of partnerships and expanded its presence in emerging markets globally.
The successes of the last year and increase in revenue comes despite many challenges retail brokers have recently faced, in particular a more stringent regulatory environment that has changed significantly over the past 18 months across more mature jurisdictions.
Tim Hughes, CEO at TigerWit, said:
"The last financial year has been both successful and transformational for the Group as we progressed our strategy of broadening our global footprint and further developing our technology. These investments position us to offer an innovative suite of trading and fintech products to retail investors around the world. This strategy is becoming a reality with our multi-jurisdiction regulation, establishment of regional partnerships and product innovation.
"Despite the uncertainty of what the global coronavirus pandemic presents, we have ensured we do our utmost to protect our employees by providing them with everything they need to be able to work safely from home. This financial year has commenced strongly in the face of today's uncertain economic climate and we continue to grow, looking forward to the months and years ahead with great optimism."
Strategic achievements from the past financial year include new product launches, such as the addition of cryptocurrencies and continued enhancements of the mobile trading app. Other noticeable developments include the launch of the TigerWit employment program in conjunction with Liverpool FC and receiving their Type 3 licence from the Securities and Futures Commission in Hong Kong.
Much of TigerWit's work has been recognised in the past twelve months by winning multiple well-known industry awards, in particular the Global Forex Awards category of "Best Global Forex Trading Innovation" 2019.
TigerWit is a globally operating financial technology company with offices in London, Nassau and Hong Kong bringing innovative trading solutions in the form of TigerWit's distributed trading ledger and providing access to key global markets to trade on FX, indices, commodities, metals and cryptocurrencies.
The TigerWit Group includes TigerWit Limited (UK), which is authorised and regulated by the Financial Conduct Authority (FCA), license number 679941 and TigerWit Limited (Bahamas), which is authorised and regulated by the Securities Commission of The Bahamas (SCB), license number SIA-F185. TigerWit (Hong Kong) Limited (CE no BOI171) is licensed with the Securities and Futures Commission (SFC) to conduct regulated activities in Hong Kong.