Global financial services company FEXCO has completed a deal to buy mobile payments and loyalty start-up FLASHiZ.
Luxembourg based FLASHiZ, founded in 2011, specialises in the delivery of mobile payment solutions to enable consumers to pay in shops, online, make peer-to-peer transfers and pay paper invoices.
Deployed at over 500 outlets around Europe, the company has built up a steady pipeline of new deployments in key markets.
“We’re extremely happy to welcome FLASHiZ as an integral part of the FEXCO Group," commented Gavin O’Neill, the company's group managing director.
"We strongly believe in the potential of the company and its global technological and strategic lead position. Together with our key strategic partners, we’re confident that we’ll be able to position FLASHiZ as a worldwide market leader in the area of mobile payment solutions," he added.
BNP Paribas Personal Finance has also taken a strategic minority shareholding in FLASHiZ.
Established in Ireland in 1981, FEXCO employs 1,800 people in Ireland, the UK, the US, Asia Pacific, the Middle East and Australia. This latest acquisition brings the number of countries where FEXCO has operations to 13.