iBanFirst announced the acquisition of the British company Cornhill. The transaction will strengthen the company’s position as a leader in multi-currency B2B payment services. This is a strategic operation that plays a major role in the future of iBanFirst, a global financial services provider.
iBanFirst has announced the acquisition of Cornhill: here are the details of the operation
The operation, pending regulatory approval, will go to strengthen the activities of iBanFirst and, in particular, it will enhance the company’s offer to SMEs. The goal is to make transfers in GBP as simple as possible (a central element in particular after Brexit) by offering Cornhill customers the possibility of accessing the state-of-the-art technology of iBanFirst.
The operation is based on the partnership between iBanFirst and the investor Marlin Equity Partners which dates back to last June 2021 and which laid the foundations for the international expansion of the company. With the acquisition announced this week, iBanFirst will extend its European PSP license to the UK with considerable advantages for its activities.
The comment of the protagonists
Pierre-Antoine Dusoulier, CEO of iBanFirst, said: “We are really impressed with the quality of service Cornhill offers. Our success is driven by partnering with companies that share our values, and Cornhill’s business model fits perfectly with our iBanFirst philosophy, which believes in cross-border cooperation and first-rate customer service. This acquisition supports our ambition to become a global leader in multicurrency payments for SMEs “
Vivek Savani, executive director of CornhillHe added: “Thanks to iBanFirst, Cornhill customers will benefit from an improved cross-border experience with features like the Payment Tracker, which allows customers to track payments in the same way that consumers can track packages.”