20th Jan 2025 11:20
(Alliance News) - Bango PLC on Monday announced a new chief financial officer as it celebrated healthy 2024 trading.
The Cambridge, England-based digital payments solutions provider said it appointed Matt Wilson as chief financial officer, effective immediately, replacing Matt Garner who has retired as CFO and from the board.
Wilson has 17 years of international corporate finance experience across various industries.
Chief Executive Officer Paul Larbey said: "His extensive financial leadership experience and discipline will play a key role in the next phase of our growth journey".
Further, the company said revenue grew 16% to USD53.4 million in 2024 from USD46.1 million in 2023.
Annual recurring revenue surged 59% to USD14.0 million at the end of 2024 from USD8.8 million a year prior.
In December, Bango announced an agreement with Continente, Portugal's largest high street retailer, aimed at boosting customer offers through the Digital Vending Machine.
Due to the collaboration, Cartao Continente holders were able to subscribe to Disney+ Standard with ads until December 31 for EUR1.99 per month for three months, followed by EUR5.99 per month, with 30% cashback credited to their loyalty card.
Bango Chief Marketing Officer Anil Malhotra said at the time: "Creating an ecosystem of exceptional subscription offers is key to building lasting loyalty. With subscription services now an essential part of everyday life, the ability to seamlessly deliver these promotions to customers is a huge opportunity."
Bango shares rose 2.7% to 110.40 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
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