Qualco Group is preparing to get listed on the main market of the Athens Stock Exchange. The group has already submitted its prospectus for approval to the Capital Market Commission and the initial public offering process is expected shortly after Easter.
The group operates in the financial technology (Fintech) sector, which is one of the fastest growing sectors internationally and has already made significant progress, while its international activity ensures its further development, both domestically and internationally. It focuses on organic growth, expansion through targeted acquisitions, geographical diversification and continuous investments. Qualco Group’s fixed goal is to further strengthen its international presence, both organically and through acquisitions and mergers.
Its portfolio includes software and technology solutions with expertise in the credit and lending sector, platforms supporting the credit management and real estate management ecosystems, portfolio management for digitized receivables management services, helping businesses and individuals re-enter the financial system. The company’s customer base includes financial institutions (16%), institutional investors (20%), energy and utilities (59%) and 5% from other sectors.
The five-year period 2019-2024 saw significant financial performance, as the group’s turnover recorded an overall increase of 29%, while EBITDA profits rose by 39% at a Compound Annual Growth Rate (CAGR). In 2024, its revenues amounted to 184 million euros, recording an increase of 5%, gross profit amounted to 87.0 million euros and EBITDA profits to 39 million euros, increased by 21% compared to 2023. 99% of revenues came from organic growth while over 107% was net revenue retention (NRR). 70% of Qualco’s revenues came from the Greek market, while 30% from international markets.
International presence
The Qualco group began its international expansion during the four-year period 2010-2014, starting with the highly demanding market of Great Britain. Today, in addition to Greece, it maintains facilities and offices in Great Britain, France, Cyprus, Italy and Spain, while operating in 5 countries in the Middle East (UAE, Bahrain, Saudi Arabia, Jordan and Egypt).
It operates in more than 30 countries in Europe and the Middle East, employing more than 1,000 employees, including more than 300 software engineers and 50 data scientists. It develops and provides integrated E2E solutions to more than 140 customers worldwide from banking but also broader sectors such as energy, real estate, etc.
It has made 12 strategic acquisitions since 2021 to date with the aim of expanding its portfolio of services and products. It shows continuous and significant annual growth in its financial figures, while the strong growth strategy is also reflected in the investment of Pimco, one of the largest international institutional investors, since 2018.
