Raketech has published its interim report for the first quarter and reported a 26.6% increase in revenue from €6.5m ($7.9m) to €8.3m.

The company also saw an organic growth of 5.4%, when the year before Raktech experienced a decline of -10.7%.

Raketech had 23.5% more customers year-over-year, it showcased that there were 39,874 new depositing customers in the start of 2021.

Operating profit amounted to €1.6m, with a margin of 18.9%. While profit for the period reached €1.1m with an earnings per share of €0.03.

Meanwhile, EBITDA for Raketech was €3.2m corresponding to a margin of 38.7%.

The company reported that there were no significant events during the quarter, however, after the quarter Raketech did gain €2.8m in revenues during April.

Raketech CEO, Oskar Muhlbach said: “With regards to margin it is worth noticing that our lower margin network revenues now represent a fair share of our total revenues and that our Finance vertical, which was on the contrary very strong with regards to margin, no longer are in the numbers.

“In practice this means that our operational efficiency continues to be high, and that growth from our core operations can be expected to have positive impact on margin over time, alternatively to be used to further accelerate growth by developing new products, offerings, enter into new geographies and more.”