BitPesa, a Kenya-based blockchain payments startup, has acquired TransferZero, an international, online money transfer platform.
Founded in May 2016, TransferZero is the fintech company licensed by the Bank of Spain as an authorized payment institution. It is a partner of Bankia, Spain’s third largest bank and has pioneered a number of innovations in the European FinTech sector. The company specializes in sending money to consumers and companies in 200 countries using over 50 different currencies.
Under the acquisition, TransferZero will continue to operate under the same brand name and all of its employees will stay with BitPesa, according to the official release. The company’s headquarter will remain in Madrid.
“BitPesa has the support of top-tier, institutional investors and a network that will help to bring TransferZero’s technology to the next level,” said Luis Cambronero, former CEO of TransferZero and current MD at BitPesa. “Traditionally, residents would have to go to an agency or office to send money in cash. We enable our customers to quickly send money across the globe for free. Our new smart phone application is designed for the next generation of users.”
With this partnership, BitPesa would be able to plant deeper roots through UK and European licensing, bank accounts, and integrations.
“This past year was groundbreaking for digital payments and blockchain, as we saw Japan and Korea, two major Asian economies, come out with clear regulation that supported a booming sector. The UK, Europe, and Switzerland also solidified their position in support of payment companies using this technology,” said Elizabeth Rossiello, founder and CEO of BitPesa. “This is truly a partnership where the whole is greater than the sum of the parts, allowing BitPesa to solidify our leadership in this space. By bringing our regional and technological expertise together, we will further accelerate our month-to-month growth.”
