ClearBank Continues Ascent with Strong Financial Performance

Real-time clearing and embedded banking enabler ClearBank celebrated its 10th anniversary this year by reporting a third consecutive year of profitability in the UK. The fintech’s financial results show robust growth across key metrics, solidifying its position as a major player in the evolving payments landscape.

The Group reported normalized revenue up 34% to £121.6 million, driven by increased transaction volumes and fee income. ClearBank’s UK operations specifically saw revenue climb 32% to £117.7 million, fueled by demand for its embedded banking, agency banking, foreign exchange, and multi-currency services.

Key Highlights from ClearBank’s Performance:

• Profitability: Pre-tax profit in the UK surged 53% to £12.2 million
• Deposit Growth: Total deposits managed jumped 65% to £17.8 billion, surpassing those held by established neobanks like Monzo and Starling
• Transaction Volumes: Payment scheme transactions increased 57% to 262 million over the year
• Fee Income: Grew 51% to £88 million as a direct result of higher transaction volumes
• Client Base: Expanded to 279 clients, adding 61 new partners including PayCaptain and LemFi

ClearBank’s financial strength was further validated by achieving an Investment Grade (BBB-) credit rating from S&P.

Strategic Investments for Future Growth

While the UK business demonstrated strong profitability, ClearBank reported a statutory pre-tax loss of £16.7 million at the Group level. This reflects strategic investments in scaling its European operations following securing a banking license in July 2024.

The European division onboarded 21 new clients, reaching €44 million in deposits and processing over one million monthly transactions. The bank also opened a branch in Paris and successfully extended services across 21 EU countries.

“We have built unrivaled infrastructure and are scaling it efficiently across new propositions and jurisdictions,” said Mark Fairless, Group CEO of ClearBank. “The foundations are laid for our next phase of expansion as we continue to transform how businesses access financial services.”

The fintech’s performance underscores its ability to deliver on promises while investing in long-term growth—a model that has earned recognition from both credit rating agencies and industry observers.