Oct 2023
Conyers has advised ecommerce payments provider and online merchant acquiring bank Finaro (formerly Credorax) on its acquisition by US fintech company Shift4 (NYSE: FOUR), a leading provider of integrated payment and technology solutions.
On completion of the acquisition on 26 October, Shift4’s total addressable market expanded significantly in terms of both geographic coverage and industry verticals.
Finaro is one of Europe’s leading clearing technology providers in the ecommerce sector and operates as a licensed clearing gateway for Visa and Mastercard, while also providing other financial services such as managing cross-border risks and foreign currency, digital wallets, cryptocurrency and business intelligence. In addition to augmenting Shift4’s ecommerce offering, the acquisition will enable the expansion of its card-present technology services across Europe. With more than 500 software integrations and over 200,000 merchant customers, many of whom have a multinational presence, Shift4 also stands to benefit from numerous international opportunities as a result of the acquisition.
Partners Anton Goldstein and Rachael Pape together with Counsel Nicholas Kuria of Conyers’ BVI office advised on the transaction, working alongside Herzog, Fox & Neeman.
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