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ACE Money Transfer secured an investment of £ 1.5 million, amid promising growth, from a London based investment firm to extend its current operations.
ACE Money Transfer has entered into a business relationship with a London based investment firm who has agreed to invest £ 1.5 Million in ACE Money Transfer.
This investment came at a time when many businesses across the world are struggling to stay afloat due to pandemic and any loan or investment is very hard to come by.
Despite worsening economic conditions in the United Kingdom and EEA states due to pandemic, ACE Money Transfer has shown strength and performed exceptionally where its revenue in 2020 jumped from £ 3.49 Million in 1st quarter to £ 10.22 Million in 2nd quarter.
The company also reported £1.68 million of profit before tax and interest for the year ended December, 2019 as compared to £1.195 million in 2018. The latest investment also shows the confidence of market lenders and investors on ACE Money Transfer.
The investment acquired by ACE Money Transfer is in the form of 1-year loan and shall be used to strengthen its current operations of cross border payments and to diversify the company’s product offering for both money transfer senders and recipients.
Previously ACE Money Transfer had also acquired a similar loan from Archover, a peer to peer lender, in 2018 for a term of two years.
About ACE Money Transfer
ACE Money Transfer (registered name “Aftab Currency Exchange Limited”) is a Manchester-based renowned financial institution which specializes in cross-border payments.
The company is providing its money remittance services in the United Kingdom and other EEA states since 2010. Since 2016, the company has shown outstanding performance by marking its presence across the globe.
Source: EINPresswire.com/ — Manchester