, the fintech company, on Tuesday confirmed its unaudited results for the six months ended 30 June 2021.){kind=link}
Molde’s Bitcoin under management grew by 327%
Mode Global Holdings (LON:MODE), the fintech company, on Tuesday confirmed its unaudited results for the six months ended 30 June 2021.
Mode leverages Bitcoin and Open Banking to deliver on its mission, offering people a one-stop
app for growing wealth and spending smarter, as well as providing businesses with a cheaper,
safer and smarter alternative to card payments and boosting loyalty amongst customers.
The crypto firm moved into a gross profit margin of 19% following a H1 2020 gross loss, while its balance sheet had £5.7m cash and liquid assets of £8.3m (FY 2020: £6.2m).
Revenues increased more than twenty-fold to £0.8m (H1 2020: £0.03m) reflecting 3,200% growth in trading volumes and increased payment volumes of Global Services.
Its Bitcoin under management grew by 327%.
Mode successfully completed of a materially oversubscribed placing to raise £6m to support the continued growth of its financial ecosystem.
Ryan Moore, Mode CEO, said: “Our half-year results mark a significant milestone for Mode. 2021 has been a transformational year and, after a successful period of investing in our people and products, we are now moving at pace. We have successfully built a strong platform of regulated and innovative products to drive growth. I continue to be impressed by our team at Mode and their ability to deliver a disruptive financial ecosystem where exchanging value can be seamless for all.”