Fabrick’s 2023 results: €54.7m revenue, 14.5% YoY growth

Fabrick’s platform enables entities to incorporate digital financial services into their offerings

Fabrick, an Italian-based open finance provider, has announced its 2023 results with revenues equal to €54.7m, up 14.5% from the year before.  

Last year, Fabrick expanded internationally, acquired British paytech Judopay, and secured a stake in Banxware, a German fintech. In addition, Mastercard and Reale Group became minority shareholders. 

Furthermore, Fabrick, which is part of the Italian bank conglomerate Sella Group, saw client numbers increase from 400 to 450. 

Founded in 2018, Fabrick’s platform enables entities to incorporate digital financial services into their offerings. The fintech is affiliated with organisations such as Codd&Date, Dpixel, Alternative Payment and Fintech District.  

To improve its offerings and streamline payment processes, Fabrick will integrate its subsidiary, Axerve, which recorded transactions worth €25.5bn in 2023.  

Looking forward, Fabrick plans to expand in Germany, France, Spain and the UK.  

Commenting on the results, Paolo Zaccardi (pictured), chief executive officer of Fabrick, said: “In 2023, we embarked on a new season of consolidation and development. Today, Fabrick is recognised by the market for its unique platform model.”

Zaccardi said the goal is to become a reference point at the pan-European level. To achieve this, “we will accelerate our presence in international markets via acquisitions,” he said.  

“And more investments in emerging operators who have interpreted local needs by developing specific vertical products in open banking and open payments. These steps will generate synergies and growth.”  

He continued: “The market evolution demands that payment systems be central to defining new digital financial services.  

“Hence, the merger by incorporation with Axerve is highly strategic as it allows us to cover the entire value chain and, consequently, enhance our offering.” 

Image: Fabrick 

Josh Poyser Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.