TransferMate buys Swiss FX payments firm Devisenwerk

Allows TransferMate access to one of the world’s most important financial hubs TransferMate, the world’s leading cross-border B2B payments provider, agreed to acquire Swiss-based FX payments firm Devisenwerk, in a deal that will give TransferMate direct access to one of the world’s most important financial hubs. Sinead Fitzmaurice, co-founder and CFO of TransferMate, said: We are delighted to announce this acquisition, which is an important step in the global growth of TransferMate. Devisenwerk is an exciting and innovative young company, which gives us immediate market entry into Switzerland, allowing us…

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Top 5 Scaling Tips

by Gary Conroy, Chief Product Officer I’ve been fortunate enough to have been involved in the largest Irish FinTech deals. TransferMate Global Payments secured a valuation of over €350m at the time of a €51m minority equity investment from ING and AIB in 2017/2018, and Realex Payments was sold to Global Payments for €115m in 2015. Both companies have similar characteristics – entrepreneurial driving forces in Terry Clune, Sinead Fitzmaurice and Colm Lyon; neither is VC backed, instead choosing to grow organically through paying customers; both have been profitable since inception. What…

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