Platform Transact has reported record gross inflows of £2.4bn for the first quarter of its financial year, according to an update from its parent company IntegraFin.
Gross inflows for the same period last year were £1.7bn. Net inflows onto the platform were £0.9bn compared to £0.3bn the previous financial year. The results said this represented 5.7% of opening funds under direction (FUD) for the quarter on an annualised basis. Total FUD on the platform reached £65.9bn, up 3% during the quarter and 14% over the past year. Total client numbers reached 238,000, up from 231,400 in Q1 2024. IntegraFin group CEO Alex Scott said: "We are pleased that the Transact platform has delivered an excellent start to the new financial year, building on the stro...
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