It goes without saying that 2020 has been a year like no other, and our hearts go out to everyone who was affected by the COVID-19 pandemic. Like many other businesses, we had a challenging year, but we are grateful for the great bunch of Assemblers who have been working hard in 2020 to go the extra mile in helping our customers. We’re also grateful to our customers, both old and new, as well as our partners and investors - Thank you for the continuous trust and support for what we do.
Our biggest growth year yet
Despite 2020 presenting us with a tough business environment, Assembly saw huge growth, the largest since the business was launched in 2013. We’ve processed close to USD$6.5 billion total payment value (TPV), with real-time payments surpassing USD$3 billion for the first time. Year on year, we grew 214% in transactions across all our various payment offerings.
We had a number of new and existing customers reach key milestones in their own journeys, with HiPages listing on the ASX, BeforePay rebranding and growing fast in 2020. Ordermentum grew to new heights, BTC Markets announced a rebrand and bolstered an already strong identity, ManagedApp grew 100% for the year and fellow proptech platform Kolmeo launched their platform in Q4 of this year.
We also launched features across bill payments, cards and the reporting dashboard that support customers in enhancing their core value proposition, increasing efficiencies and improving security.
We formed a joint venture with Standard Chartered, a leading global bank with more than 150 years of experience and history, providing financial services across 60 different markets. Through this JV, we will combine our API-driven payments technology with Standard Chartered’s financial services expertise to deliver a superior payments experience to customers globally. We also heightened our commitment to upholding higher compliance standards and partnered with leading blockchain analysis company, Chainalysis.
Growing the Assembly team
We set up headquarters in Singapore and grew the Singapore team, hiring for roles across different verticals including operations, legal, compliance, partnerships and marketing. We also built out an engineering team in India, which was a new hiring market for us. Having moved the company to a remote-first basis, onboarding for all new hires this year was done 100% remote. Tough, but we’ve managed to do so successfully. We now have teams across 6 cities, and we’ll be growing this number going into 2021.
So what will 2021 bring?
We remain focused on global growth, with expansion plans under way into new markets including the United Kingdom, Europe, Hong Kong, Singapore and Malaysia. Growth won’t end there, as we have aggressive plans to further extend our capabilities into Southeast Asia and the Middle East.
Across all markets, we’ll continue our work in forging partnerships with technology providers, banks, card schemes, real-time payment systems and alternative payment methods to bring the global payment complexity together and simplify it for our customers. We’ll be launching new services in 2021, to assist our customers in managing their payment workflows, anti-fraud capabilities and global currency accounts. We’ll also be building out a 24-hour support team to better serve the needs of customers across all time zones.
There’s a lot to do in 2021, and we’re really looking forward to it. Thank you to all our customers, partners, allies and friends; we wish you well for the end of 2020 and in the year ahead.
Rimal Gokani & Tim Dickinson
Co-CEOs, Assembly Payments
December 18, 2020