iBanFirst acquires Cornhill, a foreign exchange provider in the Uk
By Joy Dumasia
June 30, 2022
- B2B Payments
- Cross Border Payments
iBanFirst declared the acquisition of the London-dependent Fx company, Cornhill. The acquisition builds on iBanFirst’s lengthy-time period funding partnership with private equity firm Marlin Equity Associates, recognized in June 2021. The acquisition is a testomony to the company’s target on accelerating its intercontinental expansion, strengthening partnerships, and cementing market leadership throughout Europe.
Following the submit-Brexit transition, United kingdom and EU customers are getting to be additional reliant on field associates who have a agency footing on equally sides of the Channel. The acquisition represents an opportunity for iBanFirst to extend its worldwide footprint and prolong its European PSP licence to the British isles.
Pierre-Antoine Dusoulier, CEO of iBanFirst, mentioned: “Following regulatory approval, our acquisition of London-based overseas exchange (Forex) company, Cornhill, will reinforce iBanFirst’s worth proposition to SMEs, simplifying GBP exchanges in a put up-Brexit context, and providing Cornhill consumers obtain to its point out-of-the-artwork cross-border know-how.
“We’re definitely amazed by the high quality of service that Cornhill gives. Our accomplishment is pushed by partnering with like-minded businesses that have the exact values as us. Cornhill’s organization model suits properly inside our philosophy at iBanFirst, wherever we feel in cross-border cooperation and to start with-rate customer provider. The acquisition supports our ambition to grow to be a world wide chief in multi-forex payments for SMBs. Our arrival in the Uk signifies a crucial milestone and marks our existence in 10 countries. In the upcoming, we prepare to proceed escalating throughout Europe, turning our consideration to Switzerland, Scandinavia and North The usa.”
Vivek Savani, Government Director of iBanFirst United kingdom, explained: “We’re happy and keen to be becoming a member of iBanFirst. The pandemic has underlined the importance of digitising payment processes and combining strong Forex hazard administration with technological know-how. Immediately after considering many choices, iBanFirst’s impressive system and technological abilities is the ideal solution to meet the needs of our purchasers and the British sector as a total. The acquisition will permit our consumers to profit from an increased cross-border practical experience with features like the Payment Tracker to trace payments the very same way shoppers can track parcels. The acquisition will also produce a payment corridor to aid and accelerate incoming and outgoing GBP payments.”
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