Finseta (AIM:FIN), the London‑based foreign exchange and payments group, reported that it had swung to a loss before tax of £1.3m for the year to 31 December 2025, from a £1.4m profit a year earlier.
Revenue rose 9% to £12.4m (2024: £11.4m), driven by active customers increasing to 1,101 and a 54% jump in corporate account revenue, which now represents 57% of sales, while gross margin narrowed to 62.0% (2024: 65.7%).
Earnings (adjusted EBITDA) fell to £0.2m (2024: £2m) after planned strategic investments.
Cash and liquidity tightened, with cash and cash equivalents of £1.5m at 31 December 2025 (2024: £2.6m) and net debt of £0.3m (2024: net cash of £0.6m), and the balance sheet was later bolstered by a post-period £0.9m placing before expenses.
Operationally, the company reported progress included DFSA regulatory approval and a Retail Endorsement in Dubai, a fully operational Dubai office and expanded sales headcount, implementation of UK agency banking. It noted the launch of a corporate card that suffered supplier issues leading to a £0.2m intangible impairment, and platform enhancements targeted at corporates.
"We continue to strengthen our capabilities that will enable Finseta to become the primary payments provider for customers in sectors that are typically underserved by traditional banks and to make progress towards further expanding our international reach and regulatory permissions," said James Hickman, Chief Executive Officer.
The group noted momentum in Dubai has been sustained into 2026, and it is progressing European regulatory permissions and expects medium‑term acceleration in sales growth and profitability.
