Fintel, owner of adviser support firm SimplyBiz and fintech Defaqto, has reported a 2% rise in revenue growth to £27.6m for the six months to the end of June, compared to £27.1m in the first half year of 2022.

The firm also reported strong liquidity with a cash position of £13.3m, up from £7.6m.

It said its core adjusted EBITDA climbed 8% to £8.8m from £8.2m while its core SaaS (software as a service) and subscription revenue rose 6% to £18.8m, compared to £17.8m last year.

Matt Timmins, joint chief executive, said the company “continued to make significant progress” during the six month period.

He said: “We have increased investment into our technology and service platform, with earnings enhancing acquisitions expanding our unique proposition and driving future growth opportunities.”

He said the company’s diverse client base and proposition, combined with the cash generative nature of the business, “provide resilience to tough market conditions and ensure we are well placed to capitalise on the growth opportunities arising from an evolving UK financial services landscape.”

Mr Timmins said trading remained encouraging and in line with expectations.

Fintel will pay an interim dividend of 1.1p, up from 1.0p, which it said recognised “the strength of the underlying business.”