London-based fintech Paysafe agrees to acquire German firm viafintech
After acquiring PagoEfectivo and SafetyPay this month, London-based fintech company Paysafe has signed a definitive agreement to acquire market-leading German fintech company, viafintech, in an all-cash transaction.
The acquisition not only boosts Paysafe growth opportunities in Germany but also creates revenue-generating opportunities to cross-sell viafintech’s alternative banking and payments solutions to its merchants around the world.
The strategic acquisition also allows Paysafe to solidify its position as a global market leader for eCash and open banking solutions. On completion of the three acquisitions, the Paysafe eCash business will be able to offer eCash and open banking solutions in over 60 countries with over one million distribution points.
As part of the deal, the viafintech team, including viafintech’s managing directors, Sebastian Seifert, Achim Bönsch, and Andreas Veller, will become part of Paysafe’s expanding eCash and open banking solutions’ team which is headed up by Paysafe eCash CEO, Udo Müller.
The transaction is expected to close over the coming months, subject to customary closing conditions and in accordance with applicable laws and regulations.
Founded in 2011, viafintech offers digital payment solutions which enable consumers to make deposits or withdraw cash from their digital bank accounts at a nearby retail store using a barcode.
The company’s solutions are also used widely for bill payments and credit payouts, as well as for online shopping in general, supporting consumers in the region who don’t have bank accounts, or who simply prefer the heightened security of using eCash to pay online.
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