Trade International Money Express Inc - IMXI CFD

FinTech Acquisition II Company profile

About International Money Express Inc

International Money Express, Inc. money remittance services company. The Company is focused primarily on the United States to Latin America and the Caribbean (LAC) corridor, which includes Mexico, Central and South America and the Caribbean. It utilizes its own technology to deliver value-added services to its customers through a network of sending and paying agents. Its remittance services, which include a suite of ancillary financial processing solutions and payment services, are available in approximately 50 states in the United States, Washington D.C., Puerto Rico and approximately 13 provinces in Canada, where customers can send money to beneficiaries in approximately 17 LAC countries, seven countries in Africa and two countries in Asia. Its services are accessible in person and Company-operated stores, as well as online and via Internet-enabled mobile devices.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, International Money Express Inc revenues increased 29% to $459.2M. Net income increased 39% to $46.8M. Revenues reflect Wire transfer and money order fees increase of 28% to $393.2M, Foreign exchange, net increase of 34% to $62.8M, Other income increase of 23% to $3.1M. Net income benefited from Interest Expense decrease of 31% to $4.5M (expense).