KoreFusion Advises The Bancorp on the Sale of Its European Operations, Transact Payments Ltd.
July 11 2017 - 5:45AM
Business Wire
KoreFusion acted as exclusive adviser to The Bancorp, Inc.
(NASDAQ: TBBK), a financial holding company based in Wilmington,
Delaware, in the sale of Transact Payments Ltd. (TPL), its wholly
owned UK-based European prepaid subsidiary and licensed electronic
money institution, to Neptune International Ltd., a private
investment firm. Terms of the transaction were not disclosed; the
deal was completed and approved by regulators in April 2017.
Jeremy Kuiper, Executive Vice President and Head of Payment
Solutions at The Bancorp, said, “KoreFusion’s expertise in the
payments arena facilitated our transaction in an accelerated
fashion. The engagement — from assessing our asset, identifying and
vetting a diverse and qualified set of potential buyers, and
assisting in navigating the M&A process and closing the
transaction — demonstrates the strength of competency and
capabilities that made the deal possible and gave us an overall
deep appreciation for the KoreFusion team.”
KoreFusion is the only firm that combines strategy consulting
and M&A advisory services for the international fintech,
payments and financial services industries.
Yogesh Oka, a Founding Partner of KoreFusion, said, “Our deep
domain expertise in fintech and payments, combined with our
ever-growing network of strategic and financial buyers, enabled
KoreFusion to work alongside The Bancorp’s senior management team
to sell TPL to Neptune, a highly respected and well-qualified
buyer. KoreFusion worked successfully with The Bancorp and TPL’s
senior management to demonstrate to prospective buyers the value of
adding TPL to their specific portfolios and operations.”
About KoreFusion
With a presence in six international locations, KoreFusion is
the only firm that combines strategy consulting and M&A
advisory services exclusively for the international fintech,
payments, and financial services industries.
www.korefusion.com
About The Bancorp Inc.
The Bancorp is dedicated to serving the unique needs of non-bank
financial service companies, ranging from entrepreneurial startups
to those on the Fortune 500. The company’s chief financial
institution, The Bancorp Bank (Member FDIC, Equal Housing Lender),
has been repeatedly recognized in the payments industry as the Top
Issuer of Prepaid Cards (U.S.), a top merchant sponsor bank, and a
top ACH originator. Specialized lending distinctions include
National Preferred SBA Lender, a leading provider of
securities-backed lines of credit, and one of the few bank-owned
commercial fleet leasing groups in the U.S.
www.thebancorp.com
About Transact Payments Ltd.
Transact Payments Limited (TPL) is a licensed European e-money
institution providing payment solutions to partners across the
world and from different industries and sectors. TPL is regulated
and authorized by the Gibraltar Financial Services Commission and
is a Principal Member of both MasterCard® and Visa® in Europe,
providing European BIN sponsorship and modular payment, debit, and
prepaid services. TPL’s licenses have been successfully passported
into every EU and EEA member state, enabling the issuance of
prepaid card programs across Europe, physical and virtual. Offering
secure, creative and innovative payment and card solutions, TPL is
“Payments Made Simple.”
www.transactpaymentsltd.com
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KoreFusionIsaac Matznerinformation@korefusion.com
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