Another “Unbundling Then Partnering” Nordic Case
Hey FinTech Fanatic!
The Nordics’ payments scene is in full rearrange-and-repartner mode.
Investment firm Mimir Group has acquired a payments platform from PayEx to build and launch a new Nordic FinTech company called Everspring Solutions.
PayEx is a financial services provider specialising in billing and debt collection for e-commerce businesses, and has operated as a wholly owned subsidiary of Stockholm-headquartered Swedbank since May 2017.
The platform's established customer base and employees are included in the purchase, alongside Medipay, a healthcare-specific payments gateway which is currently live in Norway and is expanding across the Nordics.
Last week, we looked at Vipps MobilePay’s decision to sell its Checkout business to Kustom; this week, Mimir’s acquisition of part of PayEx to launch Everspring Solutions shows the same playbook from a different angle: strip out a business layer, sharpen the focus, then scale through a new ownership and partnership structure.
The transaction is structured as a "long-term partnership", whereby Mimir is to take majority control of Everspring, while PayEx will retain "a significant minority stake".
What could be the next “unbundling then partnering” Nordic move? Hit reply and share your thoughts.
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