Fintech platform Banking Circle Group has acquired account-to-account (A2A) payment provider SEPAexpress.
Following the acquisition, SEPAexpress will have access to technology infrastructure and financial resources as part of Banking Circle’s “ecosystem”, helping to accelerate its growth, and will continue to operate autonomously.
Banking Circle said the addition of SEPAexpress complements its existing range of ecommerce solutions, including embedded finance, business payments and card issuing, and B2B buy now, pay later.
“By joining the Banking Circle Group ecosystem we will be able to capitalise on the established infrastructure and financial resources to realise our vision of extending our services across Europe,” said Franz Guttenberger, CEO of SEPAexpress.
“Businesses across the region need to be able to focus on their customer propositions and, by utilising our services, they don’t need to worry about the payment process.”
SEPAexpress, which launched in 2017, plans to expand further in the A2A space with Open Banking, upcoming ‘Request to Pay’ and embedded risk management services.
Anders la Cour, CEO of Banking Circle Group, added: “The quality and simplicity of the solutions from SEPAexpress are without compare in the industry.
“Its suite of offerings is a natural fit with the Banking Circle Group ecosystem and we’re excited to have the company on board to serve the ever-growing payment needs of businesses worldwide.”
EQT VIII and EQT Ventures-backed Banking Circle Group has offices in Amsterdam, Copenhagen, London, Luxemburg, Munich, Singapore and Stamford, Connecticut.