Online content operator and marketing affiliate Raketech has recently announced that their organic growth and rise in new customer deposits is the main reasons for its double digit growth in revenue for the first quarter of the year. The operator, who is listed in Stockholm, reported a 78.2% year on year increase in their total revenue to €8.7 million for the first three months of 2019, ending on the 31st of March. The figure included a party liability of €2.3 million that had been waived during the period. Apart from that specific write-off, their revenue increased by 31.6% to €6.5 million.
For its first quarter report, the company stated that their revenue increase was partially driven by strong performances within the Finnish casino market. The report also shows that receipts from payments is now their largest source of revenue, with a 45.5% increase putting it ahead of revenue share proceeds. Raketech made a total of €2.8 million from upfront deposits, with their revenue share increased by 10.8% to €2.5 million, along with their fixed fees increasing by 63.4% to €1.1 million.
In terms of proceeds from geographic and vertical areas, the company reported few changes. Revenue from Nordic countries accounted for 95% of their total, compared with 95.3% for the same period last year, while their casino revenue was up slightly by 72.2% as compared to 71.4% from 2018. One area of growth that saw massive increases was their new depositing customers, which was up 76.1%.
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