Revenues up at Global Shares prior to acquisition by JP Morgan

Co Cork-based fintech also reported a narrowing of losses last year

Global Shares chief executive Tim Houston. Picture: Daragh Mc Sweeney

Global Shares, the Clonakilty-headquartered fintech acquired by JP Morgan in a $750 million (€665 million) deal earlier this year, recorded a 66 per cent rise in revenues in 2021 to €31.5 million, newly filed documents show.

Pre-tax losses declined slightly to €5.6 million from €7.1 million even as administrative expenses jumped from €19.9 million to €28.7 million.

The deal to acquire Global Shares, which was announced in March, was completed five months later.

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