Turnover has trebled over the last 12 months at affiliate technology business, Quintessential Financial Group, which gives publishers the capacity to sell products from financial brands.
Revenue this year has risen to £34 million from £11 million in 2012. The Cheshire-based company has stated its Pingtree technology, which lets affiliates access a range of lenders and financial providers,and this has made the biggest contribution to its bottom line.
Quintessential can apparently generate 400,000 loan and insurance applications a month, which is being driven by more than 1,000 partners and affiliates that are signed up to Pingtree.
Founded by Greg Cox in 2006, the company is not completely reliant on third parties for revenue. It does have several publishers of its own, including myfinance.co.uk, myinsurance.co.uk, purplepayday.com and Epic Loans.
Now the chief executive of Quintessential Finance Group, Cox revealed that the company did not stumble into this period of sharp growth. It has come about because of how consumers now manage their money.
“The way in which people purchase financial services and products, including how they borrow and save, has changed,” Cox said. “The emergence and adoption of new technology is driving choice, and with it, increasing competition.”
“Consumers demand quick and easy access to solutions, wanting decisions in minutes, whilst providers need a consistent high quality supply of customers. Our technology helps to fulfil those needs by bridging the gap between the consumer and multiple lenders or providers.”
The group now operates in various sectors including personal loans, short-term loans, insurance, debt consolidation, financial claims, credit reporting and data services and price comparison, having expanded out of its original remit of secured loans.
Plans are already in place for Quintessential to build out its global footprint as it eyes international markets. The first permanent US office is about to open along with Canada and Brazil, which will complement an established presence in Australia and New Zealand.
Spreading internationally is not the only topic on the company’s agenda, it is also looking to add to its portfolio of consumer-facing financial and insurance comparison sites later this year.