Successful financial year 2021 for portagon

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Published on 27. April 2022
  • Core revenues increased by almost 80 percent
  • Customers raised EUR 82 million over the course of the year using the portagon software
  • The number of employees is expected to double to 120 by the end of the year

Frankfurt, February 24, 2022

 

Frankfurt-based fintech company portagon, which uses its software to enable customers to raise capital online and also digitises corporate actions, has published some of its preliminary business figures for the 2021 financial year. The business results will be audited in May 2022.

  • Total revenues in financial year 2021 were over EUR 5 million. In addition to core revenues, they also include non-recurring fees for setting up the software for customers and the income from the financing platform belonging to portagon.
  • The core revenues in the customer-related business include software rentals and usage fees and express the growth dynamics of the core business model. These revenues increased by almost 80 percent compared to the same period last year. As of 31 December, portagon has increased its customer base by more than 40 percent within one year, from almost 200 (2020) to nearly 280 (2021).
  • Since portagon was founded in 2015, the financing volume raised by customers using the software reached around EUR 215 million (as of 31 December 2021). Of this amount, EUR 82 million was attributable to the 2021 financial year, which represents an increase of 60 percent year on year.

“Our software is now used by more than 300 customers. Our strong growth rates also represent a very strong momentum in the area of digital financing overall,” said Johannes Laub, co-founder and co-managing director of portagon. “In 2022, we will continue to drive the digitisation of financing opportunities to further benefit from this strong growth trend.”

In May 2021, portagon successfully completed a Series A financing round of EUR 8.5 million. The company was already profitable in 2015, 2016 and 2018 and invested its revenues and debt capital in the expansion of the business model and growth. In 2021, portagon was again profitable in some months, despite substantial investments. The company has significantly exceeded its business objectives for 2021.

“The fact that we achieved our significant double-digit growth in revenues and volumes in 2021 with a constant headcount shows how scalable our business model is,” said Jamal El Mallouki, co-founder and co-managing director of portagon. “In order to continue our growth trajectory, we are looking primarily for IT experts and sales staff.”

portagon currently has 60 employees and will double its workforce to 120 by the end of 2022 as part of its growth plans. In order to cope with the increase in staff, portagon will be moving into new offices in a prime city centre location in Frankfurt at the end of 2022. The former commercial building “10tral” is currently being revitalised and will then offer portagon around 3,500 square metres of modern office space on several floors with a gym and many other amenities.portagon currently has 60 employees and will double its workforce to 120 by the end of 2022 as part of its growth plans. In order to cope with the increase in staff, portagon will be moving into new offices in a prime city centre location in Frankfurt at the end of 2022. The former commercial building “10tral” is currently being revitalised and will then offer portagon around 3,500 square metres of modern office space on several floors with a gym and many other amenities.

About portagon

As a pioneer in digital finance, portagon creates simple, independent and reliable access to the private capital market. With the leading technological infrastructure and the best ecosystem, we connect issuers, intermediaries and investors to process transactions securely, quickly and cost-efficently.

Nicolas Nonnenmacher
Pressekontakt

presse@portagon.com
+49 (0)151 22 98 28 48