TransMate, a provider of cross-border payment services, announced on Tuesday (December 18) that it had acquired Davinsenwerk, a Swiss-based company, TransferMate.
The acquisition will provide direct access to TransferMate to one of the most important financial centers in the world.
"The acquisition will be good for the company's continued growth," said Sened Fitzmaurice, co-founder of TransMate and the chief financial officer.
"We are pleased to announce this acquisition, which is an important step in the global growth of TransferMate. Devisenwerk is a young and exciting company that gives us instant access to the market in Switzerland, allowing us to pay market value and collect it in a very large market for companies. "Said Fitzmaurice." Very few payment companies have direct access to Swiss banks, and this acquisition provides that to us. "
Matthaus Jamroz co-founder of Devisenwerk also said he was excited about this possibility.
"We are delighted to become part of Transmit," he said. "The combination of the Swiss payment license for Devisenwerk and the innovative B2B technology and TransMate's extensive global regulatory network will provide Swiss companies with immediate real-time payment solutions when transferring funds to and from Switzerland."
Transmitem has a broad global regulatory footprint, the company said, with full license approval in each state in the United States. With payment technology solutions, the company feels it can ease corporate concerns about entering new markets while dealing with cross-border payments in different currencies.
Terry Clooney, co-founder and CEO of Transmit, said he was delighted to welcome the new company to the barn.
"We are delighted to welcome the Devisenwerk team to TransferMate," said Clune. "2018 was a year of rapid growth for Transmit, with strategic investment partnerships with both ING and AIB. TransferMate works with leading banks, biotech suppliers and software around the world to make it cheaper, easier, and easier for companies to collect or receive cross-border payments. "