Equals Group, a UK-based FinTech payments company focused on the SME market, has acquired Oonex for £4.1 million to expand into Europe. Oonex, which was established in 2012, is a full-service payments institution licensed in Belgium that offers card acquiring services.
It is also a principal member of Mastercard, which enables it to issue debit cards throughout the EEA. Equals claims it will roll out its payments, expense management, and current account products across the EEA using Oonex’s fully passported license.
Additionally, it will offer its embedded finance and BaaS products to bigger corporations and other European financial institutions.