For a Little-Known Fintech Company, New Growth Opportunities Abound
On Nov. 19, financial technology company WEX (NYSE: WEX) announced it had been granted a license to process electronic payments in the Netherlands, the seventh largest European economy by GDP and a completely new European market for WEX.
The company now operates in 11 countries, but 86% of its revenue in 2018 came from U.S. operations, meaning it still has a significant opportunity to expand internationally. And that is just one of the growth avenues WEX is pursuing in an effort to double in size over the next five years.
Right now, WEX makes a lot of its revenue at the gas pump. Image source: Getty Images.
Source Fool.com