StoneX completes acquisition of GIROXX GmbH in Germany

Steffy Bogdanova
October 6, 2020 2:00 pm

Financial services provider StoneX Group announced it has finalized the acquisition of Frankfurt based Giroxx and as of 1 October 2020 will operate under the name StoneX Financial GmbH.

StoneX’s London-based subsidiary INTL FCStone Ltd., now StoneX Financial Ltd agreed to acquire Frankfurt fintech Giroxx GmbH in the beginning of the year. The acquisition became legally effective in May and with the name change to StoneX Financial GmbH, Giroxx is now officially integrated into StoneX’s larger Global Payments Division.

Carsten Hils, Global Head of the Global Payments Division of StoneX, commented:

Carsten Hils, StoneX

Carsten Hils
Source: LinkedIn

Giroxx’s final transition to StoneX Financial GmbH marks the completion of the acquisition we signed earlier this year. We’re excited to incorporate their industry leading SME capabilities as part of StoneX’s Global Payments Division’s offerings in order to best meet the payments needs of this underserved market segment both in Germany and around the globe. Ultimately furthering StoneX’s overall goal of becoming an innovative and digitally focused financial services provider.

Acquisition

With the acquisition now finalized, StoneX’s Global Payments Division can extend its business to small-to-medium sized corporations in addition to serving a customer base of NGOs, financial institutions and corporates. These services allow SMEs to remain competitive by enabling efficient liquidity planning and ability to scale their business globally by processing international payments quickly and securely in a cost-effective manner.

Klaus Hoffmann and Jörg Sonnenschein, founders of Giroxx and current Managing Directors of StoneX Financial GmbH, said:

Klaus Hoffmann and Jörg Sonnenschein, Giroxx

Klaus Hoffmann and Jörg Sonnenschein

We are proud that Giroxx will be finally integrated into this well-known financial group as StoneX Financial GmbH. Under such a strong international brand we will be able to expand the range and products for our customers in Germany and throughout Europe. We are looking forward to increasing our customer portfolio and expanding together.

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Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
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