Cornerstone FS PLC

Cornerstone is focused on the provision of cross border payment services for SMEs. On 9 September 2020, Cornerstone acquired FXPress Payment Services Limited (“FXPress”), following approval by Cornerstone shareholders and approval by the Financial Conduct Authority of the change of control in FXPress.

Cornerstone is a provider of advanced foreign exchange and international payment systems to SMEs. Cornerstone uses its proprietary technology platform to provide the payment services and, since 2018, has been actively building its trading business and client base. For the 9 months ended 31 December 2019, FXPress generated revenue of £1.24 million and recorded a net loss of £0.08 million. As at 30 June 2020, FXPress had unaudited net assets of £117,439.

Shareholding: 2.4%

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