Kerry fintech guru Murphy sees revenues rise at Rachro

Kerry fintech guru Murphy sees revenues rise at Rachro

The company through which Kerry entrepreneur Frank Murphy controls his 85 per cent stake in fintech firm Monex saw its revenue rise by €4.5 million to nearly €113 million in 2017.

Murphy’s Rachro Limited made money from the processing of more than €40 billion in card transactions, but its rising costs – mostly attributable to infrastructure investments – meant that “gross profit from service provision decreased by 2.85 per cent from €12.5 million in 2016 to €12.2 million in 2017”.

As a result, its profit for...

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