iBanFirst acquires Cornhill, a foreign exchange provider in the UK

iBanFirst acquires Cornhill, a international trade company in the United kingdom

By Pleasure Dumasia

iBanFirst declared the acquisition of the London-primarily based Fx supplier, Cornhill. The acquisition builds on iBanFirst’s extensive-expression funding partnership with personal fairness agency Marlin Fairness Associates, proven in June 2021. The acquisition is a testomony to the company’s aim on accelerating its global growth, strengthening partnerships, and cementing marketplace leadership throughout Europe.   

Pursuing the put up-Brexit changeover, Uk and EU customers are turning out to be far more reliant on sector associates who have a firm footing on the two sides of the Channel. The acquisition signifies an opportunity for iBanFirst to extend its international footprint and prolong its European PSP licence to the Uk. 

Pierre-Antoine Dusoulier, CEO of iBanFirst, stated: “Following regulatory approval, our acquisition of London-based mostly international trade (Fx) service provider, Cornhill, will improve iBanFirst’s price proposition to SMEs, simplifying GBP exchanges in a submit-Brexit context, and supplying Cornhill shoppers access to its state-of-the-art cross-border engineering.  

“We’re definitely amazed by the quality of services that Cornhill delivers. Our good results is pushed by partnering with like-minded enterprises that have the identical values as us. Cornhill’s company product suits properly inside of our philosophy at iBanFirst, the place we believe that in cross-border cooperation and very first-price consumer support. The acquisition supports our ambition to develop into a world leader in multi-currency payments for SMBs. Our arrival in the United kingdom signifies a key milestone and marks our presence in 10 nations around the world. In the future, we prepare to carry on growing throughout Europe, turning our consideration to Switzerland, Scandinavia and North America.”  

Vivek Savani, Executive Director of iBanFirst British isles, explained: “We’re proud and eager to be signing up for iBanFirst. The pandemic has underlined the significance of digitising payment procedures and combining solid Fx danger management with technological know-how. Following considering many choices, iBanFirst’s impressive system and technological expertise is the finest alternative to meet up with the demands of our clients and the British market as a full. The acquisition will empower our clientele to gain from an increased cross-border working experience with capabilities like the Payment Tracker to trace payments the same way individuals can keep track of parcels. The acquisition will also generate a payment corridor to aid and speed up incoming and outgoing GBP payments.”