The transaction represents the first acquisition made by Small World since Equistone invested in the company in November 2018, according to the press release. The financial terms of the deal are undisclosed.
MoneyGlobe enables the movement of money from France to recipients in geographies including North Africa, West Africa, the Caribbean and South America. The acquisition is highly complementary to Small World’s existing footprint, adding coverage of the French market to an extensive money transfer network that currently processes 15 million transactions worldwide each year.
By joining Small World, MoneyGlobe will benefit from being able to offer its customers a wider choice of physical and digital channels and a global network of multiple payment options across more than 250,000 cash-pick locations in over 160 countries and direct-to-bank account pay-out in more than 100 countries, the press release continues. This ensures that money transfers take place in seconds, payments can be collected in minutes and credits happen within hours.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now