Cuscal had revenues of $182 million in the last financial year, and has grown net profit at 12 per cent over the past 10 years on a compounded basis. It reported net profit after tax of $23.4 million for the year to June 30.
In March, the company acquired Basiq, a Sydney-based start-up backed by investors including Westpac and National Australia Bank. It was previously responsible for 86 400, the neobank later acquired by NAB for $220 million.
Cuscal joins the ranks of IPO contenders alongside freight forwarder Mondiale VGL, local wealth group Mason Stevens and former Arrium mining consumables business Molycop.
Source: afr.com
