Guavapay, the global financial solutions provider, has revealed that it recorded accelerated revenue growth throughout 2024.
Founded in 2017 and headquartered in London, Guavapay says it enjoyed a significant increase in its overall customer base with annual revenue growth of 71 per cent in 2024 compared to the previous year, while nearly tripling the size of its London office team in response to the growing global demand for accessible financial options.
With a growing portfolio of licences including the UK, Canada, European Union and Switzerland and an employee base of over 500 professionals in various regions worldwide, Guavapay is poised for international expansion.
“Customer-centric technology innovation at Guavapay has been central to our growth,” explained Kamal Hasanov, group CEO of Guavapay. “Our sales have steadily increased each month, with corporate clientele doubling each quarter this year with MyGuava Business alone. Our growing popularity and loyal customer base can vouch for our robust scalable solutions for both business and personal finance management.”
As small and medium-sized businesses increasingly turn to non-banking cost-efficient payment solutions, Guavapay aims to provide solutions that meet the evolving needs of global businesses with real-time, affordable fund transfer, multi-currency accounts and advanced payment APIs. The company’s in-house technology looks to enable cost-effective solutions and operational efficiency for its customers, while partnerships with other organisations have helped to broaden the scope and capabilities of its products and services.
Bolstering growth through collaborations
Guavapay’s flagship products, MyGuava (B2C) and MyGuava Business (B2B) payment apps enable users to open accounts in over 20 currencies, including GBP, USD, and EUR. With these accounts, users can send local and international real-time payments at competitive fees.
As a principal member of major card schemes including Mastercard, Visa, Discover Financial Services, UnionPay International and AMEX, the UK’s Financial Conduct Authority has registered Guavapay as a ‘Small Electronic Money Institution’ since 2019. Guavapay provides integrated financial solutions including cross-border and mass payment solutions, enabling customers to send money via SWIFT, SEPA, BACS, CHAPS and Faster Payments.
Guavapay has formed strategic partnerships with major players to expand global payment options and strengthen its financial infrastructure. MyGuava Business partnered with the likes of Xero and Adobe Commerce to bolster its top-tier user experience in payment operations for business users. Following another collaboration with PayPoint, MyGuava B2C account holders can deposit cash into their accounts at over 28,000 PayPoint locations across the UK, enhancing user convenience.
According to a recent report from McKinsey, the global payments industry grew seven per cent annually from 2018 to 2023, with a forecast of five per cent annual growth over the next five years.
Guavapay says that its growth signals the growing market share belonging to financial institutions that invest in next-generation payment technologies with enhanced fraud prevention methodologies to handle high-volume operational components while also ensuring regulatory demands for faster, efficient payment processes that maintain low costs for consumers and businesses.
