Beeks Financial Cloud signs $2m multi-year deal with forex client

8th Apr 2025 11:27

(Sharecast News) - Beeks Financial Cloud announced on Tuesday that it has signed a new multi-year contract worth about $2m with a leading global foreign exchange and multi-asset brokerage, further strengthening its sales momentum in the second half of its financial year.

The AIM-traded company said the four-year agreement would cover the deployment of its Proximity Cloud trading environment across the client's core foreign exchange platform.

Revenue from the contract was expected to begin in the second half of the 2025 financial year, and would support its existing full-year expectations.

The board noted that the latest deal followed a recent Exchange Cloud contract win with cryptocurrency exchange Kraken, with Beeks saying it continued to see strong commercial traction, with a significant pipeline of opportunities and additional wins anticipated in the near term.

"This win reflects the growing demand for our solutions as financial services organisations accelerate their cloud strategies," said chief executive officer Gordon McArthur.

"We remain focused on the conversion of our substantial pipeline and we are confident in our ability to capitalise on the growth opportunity ahead."

At 1105 BST, shares in Beeks Financial Cloud Group were up 12.9% at 210p.

Reporting by Josh White for Sharecast.com.