New Delhi, Jul 30 (PTI) Cloud communication services firm ACL Mobile expects its business to grow 30 per cent annually for the next three years on account of rise in digital transactions and expansion in overseas markets, a top official of the company said.

The company had recorded a revenue of Rs 595 crore in the financial year 2019-20, ACL Mobile founder and Chief Executive Officer Sanjay Krishna Goyal told PTI.

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"Our revenue growth rate is 30 per cent per year for the past three years, and we are expecting the same kind of revenue growth for the next 2-3 years at least," Goyal said.

ACL claimed it is the first company in India that has started this space, in 2003.

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"We were the first company who delivered a commercial SMS on mobile phones way back then," Goyal said.

The company claims to have over 500 enterprise clients and has been providing services to private banks including HDFC Bank, ICICI Bank and Kotak Mahindra Bank for 15 years. It also serves internet companies like Flipkart, MakeMyTrip and OlX.

"50 per cent of major PSU (public sector undertaking) banks are our customers, and 90 per cent of the private banks too. Around 95-98 per cent of our traffic is coming from banking and financial sectors, and OTPs (one-time passwords)," Goyal said.

He added that the company has successfully managed sending 47 billion messages in the past 12 months. "This comes around four billion per month."

The firm has now been acquired by Swedish company Sinch for Rs 535 crore.

"In terms of the messaging volume growth for the past 3 years, we see an excess figure around 45 per cent per year, and we see a robust growth of the messaging volume in the country," Goyal said.

He also said that as more and more people are going online and this technology is moving rapidly, OTPs are increasing and digital transactions are doing much better in terms of number.

ACL Mobile estimates that during the full lockdown in April and May, there was around 30 per cent dip in the total messaging traffic for the industry but now, it has started getting better.

The company has a development centre in Noida, total seven offices in India, one each in Dubai and Kuala Lumpur.

"We would be expecting a significant growth in the headcount especially in India, Malaysia and markets in UAE," Goyal said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)