Weavr, a London-based fintech company founded by Adrian Mizzi and Alex Mifsud, has gone from strength to strength since raising $40 million in capital in early 2022.
Just over a year later, the company has more than tripled its customer base, with almost 1,500 corporates now signed up to Weavr’s financial plug-ins, which can be used to deploy financial services without the burden of compliance, regulation and data security.
Monthly onboarding of new customers is three times what it was just a year ago, with a corresponding 340 per cent growth in transactions.
Weavr emerged from the now-defunct Malta Information Technology Agency (MITA) Innovation Hub’s YouStartIT accelerator programme.
Its customers are often B2B Software-as-a-Service (SaaS) companies looking to incorporate financial services into non-financial environments, and see Weavr’s solutions as a way of increasing revenues from their existing customers.
Commenting on the firm’s performance, Mr Mifsud said the past year showed that “economic picture can change very quickly”.
“During such times,” he said, “businesses need inventive ways to generate greater resilience in their operations, and embedded finance offers one of the most effective and exciting ways to do so.”
“That’s why we’ve seen such strong performance for Weavr in the past year and also why we’ve signed so many exciting partnerships with leading, innovative businesses.”
He continued: “By focusing on the needs of our customers, we’ve been able to engender double-digit monthly growth on our customer base in 2022 and have used this momentum to really shape the concept of Plug-and-Play Finance within the wider market.”