Clearhaus triples profits & hits milestone revenue in just 3 years
Clearhaus A/S has just released its 2017 annual report. The young Danish FinTech startup reported €2.49M in EBITDA and expects it to hit €3-5M this year. “With over 80% revenue coming from foreign markets, 2018 will be the year of further penetration in neighbouring countries and strategic entry into high-potential European growth markets”, says CEO Claus Methmann Christensen.
Clearhaus has come a long way since its launch in 2015; reporting one of the fastest growth stories in today’s highly competitive FinTech industry. “We discovered a gap in the market for simple, secure payment solutions at competitive prices. So we created a product that not only filled the gap, but exceeded customer expectations with superior features and great service.”
In a market dominated by large traditional banks and monopolistic players, Clearhaus managed to disrupt and challenge the norm; securing 20-25% of the Danish market in just three years.
Having successfully leveraged its home-market advantage in Denmark, the ambitious Fintech startup has now set its sights on other European markets. “We have a growing footprint across Europe and will make more strategic investments to ensure a stronger presence in foreign markets, especially in the Nordics” adds Claus Methmann Christensen.
Christensen also attributes Clearhaus’ success to its commitment to constant innovation. “Whether it’s improving our automated fraud detection systems or adding features like API-based chargeback management and account reconciliation, we will always push the envelope to make our product smarter, faster, more intuitive.” Clearhaus recently announced the support of payments made with Apple’s mobile payment and digital wallet service, Apple Pay for its 5,000 merchants in the Nordics.
With the new Payment Service Directive (PSD2) soon coming into force, Claus Methmann Christensen says the company is doing what it can to help their merchants prepare. “We give our merchants access to technologies like conditional and rule-based 3-D Secure and Apple Pay, that - once implemented - will help them become compliant with the PSD2 requirements like Strong Customer Authentication (SCA).”
Today, Clearhaus is 43 people strong and plans to scale its business without making huge investments in human resources. “We of course make the right investments in our staff, and ensure that their professional growth and our business growth in on the right track. However, as a tech company, we are able to automate more processes - which is great for customers, but also great at keeping operational costs low.”
Clearhaus is an EU payment institution and acquirer, that makes it quick and easy for merchants to accept payments from Visa and Mastercard. Using Clearhaus, merchants can get up and running in 1-3 days with best-in-class support and access to all transaction data - even on APIs. Clearhaus serves 7,500 merchants in 33 countries across Europe with simple, secure payment and merchant banking solutions, at competitive prices.