OpenWay Group
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OpenWay Group - overview
Established
1995
Location
-, -, Belgium
Primary Industry
Software
About
OpenWay Group is a Belgium-based company that provides innovative digital payment solutions through its comprehensive Way4 platform, catering to banks, fintechs, and other financial institutions worldwide. OpenWay Group, founded in 1995 in Belgium, specializes in digital payment solutions. The company's founder, Paul Gubin, has a history in payment technology, contributing to the evolution of digital wallets and payment processing. OpenWay Group operates globally with offices located in major markets including Europe and Asia Pacific.
The company has successfully navigated pivots in its business strategy to expand its offerings and reach a broader clientele. OpenWay Group specializes in digital payment solutions through its flagship product, the Way4 digital payments software platform. This comprehensive platform caters to a diverse clientele including banks, payment processors, acquirers, telcos, national payment switches, and fintech startups, among others. Key functionalities of Way4 include card issuing, merchant acquiring, digital wallets, and payment processing services such as Buy-Now-Pay-Later options.
The software is engineered to facilitate seamless payments across various channels and supports both legacy migration and new implementations, thereby addressing the evolving needs of the financial services industry. OpenWay Group serves customers globally, with a presence in key markets such as Europe, Asia Pacific, the Middle East, and Latin America, ensuring a broad spectrum of payment solutions tailored for different regional requirements and regulatory environments. OpenWay Group generated revenue of USD 27. 10 mn in 2023, with an EBITDA of USD 1.
38 mn. The company primarily relies on a subscription-based pricing model for the Way4 software platform and associated services, which includes ongoing fees for software access, maintenance, and support. Additionally, revenue is supplemented through transaction fees linked to the processing of payments made via the platform, allowing for flexible pricing tailored to clients' operations.
Primary Industry
Software
Sub Industries
Government, e-Financial, Accounting/Finance Software
Website
www.openwaygroup.com
Verticals
FinTech, FinTech, FinTech
Total Amount Raised
Subscriber access only
OpenWay Group - timeline of key events
OpenWay Group - financials
| Fiscal Year Ended | Dec 31, 2010 | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 6,694,705 | 10,532,626 | 11,586,781 | 14,077,833 | 14,098,530 | 19,095,706 | 17,899,392 | 19,685,582 | 19,943,315 | 22,411,274 | 23,622,376 | 26,628,722 | - | - | - |
| % Revenue Growth (YoY) | - | 57.3% | 10.0% | 21.5% | 0.1% | 35.4% | (6.3%) | 10.0% | 1.3% | 12.4% | 5.4% | 12.7% | - | - | - |
| EBITDA (USD) | 375,071 | 286,726 | 233,022 | 397,201 | 15,700 | 1,739,624 | 718,553 | 777,747 | 505,100 | 1,307,105 | 3,954,779 | 5,184,029 | - | - | - |
| Operating Income (USD) | 342,968 | 228,934 | 163,906 | 317,763 | (68,097) | 1,635,131 | 621,290 | 657,719 | 351,344 | 1,158,511 | 3,819,010 | 5,075,094 | - | - | - |
| Operating Margin | 5.1% | 2.2% | 1.4% | 2.3% | (0.5%) | 8.6% | 3.5% | 3.3% | 1.8% | 5.2% | 16.2% | 19.1% | - | - | - |
| % EBITDA Margin | 5.6% | 2.7% | 2.0% | 2.8% | 0.1% | 9.1% | 4.0% | 4.0% | 2.5% | 5.8% | 16.7% | 19.5% | - | - | - |
| NET Income (USD) | 352,697 | 272,739 | 71,522 | 80,439 | 86,110 | 1,191,151 | 317,662 | 86,802 | 438,418 | 858,328 | 2,532,165 | 4,288,299 | - | - | - |
| % Net Margin | 5.3% | 2.6% | 0.6% | 0.6% | 0.6% | 6.2% | 1.8% | 0.4% | 2.2% | 3.8% | 10.7% | 16.1% | - | - | - |
OpenWay Group - employee data
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