The acquisition payment will be facilitated through the issuance of an initial set of 3,938,294 ordinary shares, valued at 1 pence each, in Equals Group plc. Further sets of 61,706 shares, and potentially up to 1,000,000 shares (depending on specific conditions), will be issued over the next six months. Ian Strafford-Taylor, CEO of Equals, said:…
Read moreThe commission is additionally considering granting non-bank payment service providers full access to all payment systems within the EU. This approach aims to establish equal opportunities for both banks and non-banks by implementing a new set of regulations. Furthermore, this measure is anticipated to offer adequate protections for non-bank providers and ensure their entitlement to…
Read more
Chief Managing Director of Equiti Group and Co-founder, Mohamed Alahmad, added: This strategic acquisition marks a significant step towards expanding our capabilities in the digital payments sector. Alahmad added that Cloud Invest's experience of working with banks, financial institutions and partners such as Mastercard, Visa and Network International spanning more than 10 years will boost…
Read more
Equals stated: Oonex’s ability to issue local IBANs within the Eurozone will significantly expand the addressable market for the Group’s platform and products and fits with Equals’ strategy to enable its customers to ‘Collect globally, deliver locally, control centrally.’ The latest acquisition complements the completion of Roqqett Limited’s acquisition, earlier in January. The terms of…
Read more
2022 figures Worldline’s revenue for the full year came in at €4.36 billion, registering a 10.7% rise compared to 2021. Moreover, the number exceeded the expectation of 8 to 10% growth. The payments firm’s operating margin before depreciation and amortization (OMDA) stood at €1.13 billion, accounting for 26% of the revenue. Net income Group share…
Read more
According to Plum estimates, the app has 1.5 million users across Europe and has handled more than €1.79 billion. Victor Trokoudes, co-founder and CEO of Plum, commented: We’re delighted to bring Plum to five new European countries and help people manage their finances there. This is a challenging economic period as people are experiencing levels…
Read more
The official announcement stated: The underlying performance was even better as 2021 included the 'one-off' revenue from a material trade of £1.5 million and gross profits of £0.8 million. Equals noted that the increase in EBITA in 2022 was also contributed by the company’s continued investment in future growth resources, including the addition of headcounts…
Read more
Under the terms of the deal, Equals had to make an initial £1.0 million cash payment, which as now been paid. This will be followed by three deferred payments one of up to £0.25 million in cash and two of £0.5 million, one in cash and the other in ordinary shares in Equals. According to…
Read more
The Group’s board of directors noted it expects the full-year results to exceed current market expectations. Meanwhile, the company has continued to invest in connectivity, technology, and product development. Furthermore, the official announcement noted it has strengthening its resources in marketing, sales and compliance. Strafford-Taylor added: We continue to invest in people, products and technology…
Read more
The acquisition deal is strategic move for Equals, as the fintech firm currently does not have these two authorisations. Ian Strafford-Taylor, CEO of Equals, commented: The platform, underlying technology, and licences that we are acquiring fit well with our stated strategy of providing payments solutions to our B2B customer base. The ability to provide our…
Read more