Our roots go back to 2012 when WEX Inc., a US-based provider of payment processing and information management services, and Radius Payment Solutions, a UK-based fuel card provider, recognised the potential to take the European fuel card market to another level.
The two partners bid to acquire the Esso Card™ portfolio from ExxonMobil, and were awarded the business in June 2013.
Following this success, WEX and Radius formally established a joint venture in September 2013 – WEX Europe Services, or WES – to supply fuel cards to the European market.
In the same month, Malcolm Joyce, former finance director of Radius Payment Solutions, became the first employee – and managing director – of WES.
Once the joint venture was agreed, we knew we could start to revolutionise the fuel card market, he said.
As a sign of our ambition, in April 2014 WES moved into new offices on Emperor Way in Crewe, England. Crewe offers a central location in a growing and developing region of the UK.
In July, WES completed the legal process to acquire the Esso Card™ portfolio, with the official change in control of the management of the portfolio coming into effect in December 2014.
Following the acquisition of Esso Card™, WES achieved a steady growth of 3 per cent in its first year.
By the end of 2015, our sales team had grown from six agents in Crewe to 50 across Europe.
We rolled out our new complementary product – WEX Telematics – in November 2015, and in early 2016 committed to a multi-million pound investment in developing a new cutting edge software platform to manage our fuel card portfolio.
During 2016, total staff numbers increased by more than 30% to 260.
With consistent growth since its establishment in 2013, WEX Europe Services has paved the road for future development in achieving our long-term strategy, said Malcolm Joyce.