Finch Capital, a Fintech-focused venture capital company with offices in the United Kingdom and the Netherlands, announced plans to acquire Wirecard Turkey.
The acquisition will take place through Nomu Pay, an entity bent on investments in payment assets.
In a press statement, Radboud Vlaar-Managing Partner of Finch Capital-explains, “We see tremendous growth opportunities to further enhance payments for Turkey's 80 million inhabitants. We are excited to team up with Wirecard Turkey and we continue to actively look for further M&A opportunities in the region to speed up its growth and development."
Subject to regulatory approvals, the deal is slated to be concluded in the third quarter of 2021.
Founded in 2008, Wirecard Turkey started its operations the following year as the Turkey's first direct carrier billing service provider. It offers payment services in three major categories: Direct Carrier Billing (DCB), Credit Card Acquiring and E-money. Currently, it has contracts with all three GSM operators and the majority of banks in Turkey, and over 1,200 merchants.