Rubean AG quintuples turnover in the first quarter of 2024 

Munich, April 02, 2024 Fintech company Rubean AG, Munich (ISIN: DE0005120802, WKN: 512080, symbol R1B:GR) has continued its strong growth throughout the first quarter of the 2024 financial year.  According to initial calculations, turnover increased by 500% to EUR 493,000 in the first three months of the new year (first quarter of 2023: EUR 98,000). The successful rollouts of the Rubean software to the new and particularly large customers acquired last year are reflected in the first few months of the new year. 

In the first quarter of 2024, the company once again acquired important customers and business partners in various regions and sectors, including a strategic alliance with the global payment network Discover (symbol DFS:NYSE) with the Diners Club, Discover & PULSE credit cards and with Global Payments (symbol GPN:NYSE) in conjunction with a major German bank for a further significant market entry in Germany.

The second quarter of 2024 has already got off to a great start. Geopost's Spanish subsidiary, SEUR, has just signed a contract with Rubean to equip thousands of devices with the Rubean solution.  

In addition to the high base effect of the start of strong growth, Rubean is benefiting from the developing scaling in the area of softPOS solutions. Rubean has also strengthened its rapidly increasing profitability through cost-cutting measures, which led to savings of around 10 percent in the first quarter compared with the first quarter of the previous year.

The past considerable investments in research, development and certification up to the market maturity of the Rubean card acceptance solution PhonePOS are now paying off. 

Experience shows that the second quarter is seasonally weaker, while the third quarter and especially the fourth quarter are expected to be significantly higher, meaning that the annual sales targets of € 2.2 million to € 2.5 million are easily achievable. Rubean therefore expects revenue to increase by more than 100 percent in 2024 compared to the previous year 2023. 

About Rubean:  Rubean AG, Munich, is a leading provider of pure software point-of-sale solutions for banks, acquirers and merchants. This includes the mobile softPOS solution Phone-POS, which enables merchants to receive card payments directly on their smartphone without the need for an additional device. This solution is used by payment service providers, major banks, retailers and smaller merchants throughout Europe and is the only softPOS solution that supports the girocard (ec card) in Germany. Rubean is listed on m:access as well as on most OTC trading venues and XETRA. Further information can also be found at www.rubean.com