Way2VAT Surges: FY23 Revenue Jumps 64%

Way2VAT (ASX: W2V), a leading fintech company, saw remarkable growth in FY23, with revenue soaring by 64%, reaching AU$3.1 million, attributed to a surge in enterprise clients and expanded product offerings. Transaction volume rose to AU$23.7 million, up 11% from the previous year. The company secured major multinational clients, increasing its enterprise count by 38%, including renowned names like Eli Lilly and Nestlé Spain.

Way2VAT raised AU$4.04 million to fuel growth initiatives and received an R&D funding loan to support new product lines. With a new patent granted by the US Patent Office and the launch of AI-driven auditing products, Way2VAT is poised for further expansion. CEO Amos Simantov expressed optimism, expecting accelerated growth and profitability, driven by innovative AI-powered solutions and streamlined operational strategies.

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