Investment Case A Bespoke Service-led FX Solutions Provider.

 

Investment case

Argentex's personalised and tailored product offering is led by a team of dedicated market experts who are the foundation of the differentiated proposition and FX customer service experience.


 

High quality and motivated sales team with proven ability to drive origination


 

Since founding the business, the management team has invested significant time and resources in building and training, from grassroots, a high quality and motivated sales team. Argentex’s bespoke IT system allows management to monitor sales team KPIs in real time by individual salesperson and optimise productivity.

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Strong financial track record of growth and profitability


 

Since the business was founded in 2012, the Group’s revenues and profits have increased every financial year. Revenue has grown at a CAGR of 78.4 per cent since 2012 and the Group has been profitable in every financial year since incorporation, underpinned by the fact that the Group’s clients maintain a need to buy or sell currency, even in periods of economic uncertainty.

 

History of winning business from bank and non-bank FX service providers


 

Argentex focuses on targeting corporate and institutional clients which are typically underserved by banks with an average annual requirement to convert foreign exchange of between £1 million and £500 million. Management monitors progress with respect to the prospective client pipeline and potential lead follow up, through its own IT platform.

“The team at Argentex have provided us with some exceptionally valuable insights into the complex world of currency management."

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Scale, regulatory compliance and client proposition


 

The FX market has high barriers to entry and is a highly regulated market with significant compliance and licensing requirements. FX trading requires access to capital and liquidity trading lines through banks with typically onerous take on procedures. Building a client base of sufficient scale to support the business takes significant time. Argentex’s ability to achieve scale is supported by its differentiated client offer, robust regulatory compliance and growing brand value and reputation.

 

Increasingly diversified revenue base


 

Whilst the top 20 largest accounts are producing more revenue for Argentex, increasing from £4.2 million (FY16) to £7.6 million (FY19), there has been a decreasing concentration of these accounts to overall revenues, 59 per cent in FY16 to 35 per cent in FY19.

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