Tinubu Square, leader in credit risk software solutions for trade credit insurers and businesses, has today announced positive financial results for 2014. The company, which is based in Paris, France, has met its target to attain a profitability rate of 16%, and has recorded a gross profit up 7% and net profit up by 6%.
The good results reflect the continued success of Tinubu’s solutions and its decision to press ahead with international expansion. This business model will continue into 2015 with several strategic appointments being made to help support its growth overseas.
Tinubu is targeted to attain double digit growth in gross margin this year, and will achieve this by strengthening its personnel, creating over 25 new jobs, and bringing the total workforce to over 110. To accommodate the bigger team, the company will expand into a new headquarters in Paris later in 2015.
Recently named "Established leader" by IE Global Club 60 for its ability to bring local expertise into its global operations, Tinubu Square now earns 86% of its revenue outside France, an increase of 10% since 2013, of which 73% is from countries outside Europe.
Tinubu’s growth relies on a solid strategy. The company will continue with its international expansion strategy in 2015 toward the implementation of its SAAS solution (RMC) to large corporate and global companies, particularly focused on Germany, North America and Asia, where its growth will be driven by the appointment of local experts and multi-cultural teams. At the same time it will focus on promoting its SaaS model in the credit insurance industry with the aim of becoming one of the top three credit management risk solutions in the world, particularly aimed at the banking, financial services and factoring industries.
"Tinubu Square has a management structure that will support the company for the next 10 years. We have already recruited many technical and management experts, and with additional expertise on the international team, we will be able to maintain the positive momentum of recent years, "said Jérôme Pezé, President and Founder of Tinubu Square.