Kiwi payments company flying under the radar

Thu, 17 Dec 2020

You may not have heard of Fraedom, but its numbers are worth paying attention to. The New Zealand fintech was acquired by Visa in 2018 for £141.8 million and has continued to exist as its own entity with quiet success. It hires 450 people globally, with 350 of them in New Zealand. That’s roughly the same number of staff as more well-known tech firms Vend and Rocket Lab. Fraedom’s NZ accounts showed a $7.7 million loss in the year ending Sept. 30, 2019 on revenue of $51 million - largely development fees from its...

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