Wednesday June 3, 2020

Kerry fintech guru Murphy sees revenues rise at Rachro

Barry J Whyte

Chief Feature Writer

@whytebarry
18th November, 2018

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...

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