The worldwide cell fee companies firm based mostly in London, UK – Summarize has acquired the central banking system supplier Paysolut, based in Lithuania. Representatives of Summarize They are saying the acquisition of the Lithuanian firm goals to create even stronger technology-based banking options. The quantity of the acquisition is just not disclosed.
Working in 32 international markets and serving greater than three million of the corporate’s purchasers worldwide, in addition to in Lithuania, Summarize has labored with Paysolut as enterprise companions for the previous two years. As a supplier of core banking options designed to empower rising companies, Paysolut is an ideal match when it comes to Summarizeacquisition technique.
Be a part of Summarize will assist Paysolut increase its extremely certified crew and supply a brand new degree of high quality merchandise. As for the way forward for Paysolut, Summarize intends for the corporate to conduct enterprise as common. Modifications within the day-to-day operations and technique of the corporate are usually not anticipated, and the administration crew will preserve operational independence. Summarize will help further sources in order that Paysolut continues to serve its clients with even larger capability than earlier than.
“The primary motive for the settlement is straightforward and based mostly on a method, we need to proceed constructing collectively prime quality technological options in banking. We’re very joyful to have been in a position to attain an settlement with Paysolut and we hope that collectively we will create nice worth for our clients, ”mentioned Dimitri Gugunava, Tribe Lead – Service provider Financial institution at Summarize.
“The target of every firm is to develop and increase its companies and markets. Turn out to be an necessary a part of a worldwide participant as Summarize It offers us the chance not solely to strengthen our merchandise, but additionally to current them to considerably extra clients world wide. We’re joyful that the options created in Lithuania change into extra necessary on the planet. This additionally presents an awesome alternative for present and future Paysolut crew members to develop and be taught alongside Summarize. “says Vytenis Pavalkis, co-founder and CEO of Paysolut.
This acquisition is among the final steps in a sequence of strategic agreements Summarize It has entered to strengthen its portfolio of merchandise, together with central banking and the BaaS proposition, and to penetrate markets pushed by small retailers. Previously two years, the corporate has acquired startups similar to Debitoor, Shoplo, and Goodtill. In 2019 Summarize obtained an e-money establishment license by determination of the Board of the Financial institution of Lithuania and has invested closely to extend its presence in Lithuania and its workplace in Vilnius.
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SumUp is a monetary expertise firm that permits companies of all sizes to obtain funds rapidly and simply, each in retailer and on-line. Named the quickest rising firm in Europe by the ‘Inc. 5000 ‘, Summarize It has greater than 7,000 corporations that be a part of the platform day by day. With its card terminals which can be trusted by greater than three million corporations worldwide Summarize exceeded an annual turnover of 200 million euros in 2019.
In the meantime, Paysolut is a supplier of core banking platform, know-how, and partnerships that assist fintech corporations lower your expenses and get quicker into the monetary companies market.
– Press launch