Opera to acquire Fjord Bank

Monday 13 July 2020 11:07 CET | News

Opera, an Internet browser, has announced its intention to purchase Fjord Bank subject to regulatory approval.

According to GlobeNewswire, the acquisition will enable Opera to further accelerate its fintech operations in Europe by launching services aimed at improving consumers’ personal finances.

Opera and Fjord Bank entered into an investment and share purchase agreement at the end of May 2020. Opera acquired a 9.9% interest in Fjord Bank via a share subscription which was completed on 3 July 2020. Completion of the acquisition of the remaining 90.1% of Fjord Bank is pending regulatory approval. With the acquisition of Fjord Bank, Opera will become the owner of a specialised bank, which is launching its first deposit and loan service in Lithuania during the summer of 2020.

In January 2020 Opera ventured into the fintech space in Europe with the acquisition of the Estonia-based fintech company PocoSys, which enabled Opera to build on Pocosys’ digital wallet and payment technology. Opera is currently testing a new version of the Pocopay card and app ahead of the launch in its first European market.

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Keywords: Opera, Fjord Bank, banks, browser, internet, fintech, Europe, loan, Lithuania, Estonia, PocoSys, digital wallet, payments , technology, cards
Categories: Banking & Fintech
Countries: Europe
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Banking & Fintech

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