SquaredFinancial Group announces 200% increase in gross profits in Q3 and new Board appointments

Squared Financial has grown client base by 220 per cent, 266% growth in volume and 200% increase in gross profits.

November 08, 2021 - SquaredFinancial Group of multi-asset fintech brokers has today announced its Q3 trading results. Highlights include a 266 per cent growth in volume, a 220 per cent growth in its client base and a 200 per cent increase in gross profits.

The Group has continued to increase its offering during the year, providing immediate access to over 10,000 trading instruments across different asset classes and adding cryptocurrencies to more traditional asset classes such as foreign exchange, commodities, stocks and indices, with Gold being the significant driver of the increase in volume year to date due to its perceived safety in uncertain times.

SquaredFinancial Group has also appointed three new board members to further strengthen the governance and future growth of the company. Dirk Van Daele, Vusi Thembekwayo and Philippe Préval will bring technology, entrepreneurial and financial board experience.

Philippe Ghanem, Founder and Executive Chairman of SquaredFinancial Group, commented, "We set out to build something different, listen to what clients want and provide stability and security.

"In the coming months, we will continue to release new products, new funding channels, more online banking services and asset management, access financial markets and help clients towards achieving financial freedom. Each new member of our Board, each one of them brings a specific and different skillset, strengthening our Corporate Governance, Emerging Markets and Corporate Finance expertise that will help build, grow and promote SquaredFinancial in the coming years.''

Dirk Van Daele, financial services entrepreneur and new board member of the parent company, commented, "This is an exciting time to join SquaredFinancial. A dynamic new model on the convergence of asset management, but with an incredibly experienced leadership team and a clear pathway for progress.

"As a global FinTech, SquaredFinancial is able to offer more products and more capabilities than most peers. I look forward to working with Philippe and the team in the years to come and continuing to build the SquaredFinancial brand."

Vusi Thembekwayo, venture capitalist, entrepreneur and new board member of the parent company, also commented, "Timing and talent must meet at the intersection perfectly. The world of finance, capital markets and asset management is fast changing, and the most pressing question for customers is how to take advantage and benefit from these challenges. Crypto, broking and asset management have become mainstream, but clients need a trusted, secure provider, and this is where we want to make a difference".

Philippe Préval, CEO of Lusis and new board member of the parent company, aded, "My goal is to help change perceptions of how a FinTech company should be operated. With the utilization of Artificial Intelligence in trading as in other business areas such as payment fraud, credit scoring, loyalty and recommendations, SquaredFinancial can provide customers with unprecedented service and access.