Good things sometimes take a little time. As founder and CEO of Bricknode I am incredibly proud to compare the first half (H1) of 2021 with H1 2020 and reflect on what we have achieved. With incredible endurance we have taken a long-term view to make sure that we build a sound product foundation before scaling up our sales and marketing activities.
Between H1 2019 and H1 2020 our revenue growth rate was flat, but a year later is now over 40%. At the end of H1 2020, we numbered six full-time employees and now we are a team of more than 30 spread across offices in London, Stockholm and Skövde. How did we do it? We certainly did not do it alone; this has been a team effort together with long-term customers who have stuck with us through thick and thin and believed in us. We have also received great support from past investors and newer ones like Backing Minds.
We operate one of the few cloud-native financial platforms that is mature enough from a product perspective to facilitate most financial operations. Bricknode was always built for the global marketplace with international customers. Our press release from earlier this week announcing our newest customer, TBC Capital (part of TBC Bank), really validates the product that we have created. Even though we have not focused on sales and marketing efforts historically, we onboarded customers, early adopters, in 2011, and generated over SEK 75 million in subscription revenues. This has been reinvested directly into our product.
Recently, we entered into several exciting partnerships , including one with additiv, who just released a white paper describing the huge opportunity within embedded wealth. Over the next few years, Bricknode is going to be on the front line supporting everything from distributors and brokers of financial products to asset managers and family offices.
We like to compare what is currently happening within the financial markets to the PC revolution, where Microsoft managed to capture a piece of every PC sale and build a well-diversified and exciting business. By utilizing Bricknode Core as an operating system, both Bricknode and other software suppliers can build new financial applications in a matter of months, not years!
Speed of execution and delivery is our main benefit and has been a big part of our DNA over these past 11 years. Another important ingredient is our culture in which we show warmth, transparency, openness, and support towards all team members and stakeholders. Behind every business are real people, and we want to operate responsibly and sustainably to ensure we play a meaningful role in our global society and in tackling new challenges.