Matchmove acquires Shopmatic in USD 200 million deal

Monday 23 May 2022 14:16 CET | News

MatchMove, a global embedded finance firm, has acquired ecommerce specialist Shopmatic in a USD 200 million deal, creating an end-to-end embedded finance and ecommerce entity.

MatchMove’s platform provides embedded financial services, such as banking-in-an-app, powered by APIs, to help enterprise firms offer richer services to their SME customers. Shopmatic offers small businesses an ecommerce presence, complete with chat, social media, a webstore and automated access to the emarketplaces.

The combined company will allow MatchMove to provide its Banking-as-a-Service capabilities to Shopmatic’s ecosystem of a million ecommerce SME customers. This deal is the first in a series of planned acquisitions for MatchMove to create an end-to-end service for companies in Southeast Asia aiming to digitalise their offerings. 

The combined entity will operate under the MatchMove Group name, while retaining their individual customer-facing brands for the immediate period. MatchMove plans to provide modular services, so customers can select and tailor the digital services they need to deliver their commercial objectives.

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Keywords: acquisition, embedded finance, ecommerce, API, mobile banking, BaaS
Categories: Banking & Fintech
Companies: MatchMove, Shopmatic
Countries: World
This article is part of category

Banking & Fintech




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