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NFON AG registered record revenue of €35.7 million in the previous financial year
European cloud services firm NFON AG is set to list on the Frankfurt Stock Exchange, according to a company release. The Initial Public Offering (IPO) is expected to take place in the second quarter of 2018.
“NFON has been on an impressive growth track ever since its founding. We are the only pan European service provider of Cloud Telephone Systems. The market for business communication is facing disruptive changes, which offers further massive growth potential. The planned IPO will support us with our continued expansion in Europe and provide us with additional financial flexibility to successfully pursue our rapid growth strategy,” Hans Szymanski, CEO and CFO of NFON AG.
NFON is headquartered in Munich, Germany and was founded in 2007. The firm provides cloud based telephony services to enterprises across Europe.
NFON has seen rapid growth. Between 2015 and 2017, total revenue increased at a compound annual growth rate (CAGR) of 30 per cent.
Between 2015 and 2017, the company’s customer base grew at a CAGR of 37 per cent. Over the same period the average monthly gross churn rate remained at a constantly low level of 0.4% per month.
