Fintech and adviser support services firm Fintel, owner of SimplyBiz and Defaqto, said statutory profits climbed 6.3% to £15.3m in 2024 as revenue climbed.

Reporting results today for the full year, it said core revenue climbed 21.9% to £68.9m.

Despite the rise pre-tax profits fell from £9.6m in 2023 to £7.7m last year.

The group continued to expand, acquiring four new businesses in 2024, with the acquisition of RSMR successfully completing in January this year.

The four acquisitions cost £16.6m and delivered combined core revenues of £7.5m in the period.

The business said its core SaaS & Subscription revenue climbed 17% to £44.1m.

The company has proposed a final dividend of 2.45 pence per share, resulting in a full year dividend of 3.65 pence per share, an increase of 5.8% on the prior year.

Matt Timmins, joint CEO of Fintel said: “2024 has been a seminal year for Fintel, marked by continued strategic advancements and strong financial performance.

“The strategic acquisitions, combined with ongoing investments in our proprietary technology and data solutions, have enhanced our intellectual property, scale and market presence, laying the foundation for sustained organic growth.”

He said the business has started the year positively, “trading in line with board expectations, and onboarding six new customers to our Matrix 360 market intelligence software.”

He hinted at further acquisitions by saying the group is, “strongly positioned to capitalise on further growth opportunities within the fragmented retail financial services sector."

In July 2024 Defaqto, owned by Fintel, conditionally acquired fund ratings and research agency RSMR for an undisclosed amount, with the deal confirmed to have been completed in January.

Fintel acquired support services firm Threesixty from Abrdn for £14.6m earlier in July .

In March it revealed it had invested £1.5m in Mortgage Brain and acquired 70% of fintech ifaDASH for up to £1.5m.

Fintel also acquired financial services event firm Owen James Events for up to £2.3m in January and acquired Synaptic Software from AdvancedAdvT Limited in a £4m deal in December. Those acquisitions followed the group's investment in CRM entrant Plannr, which had been announced in June 2023.