Skrill Group, an online payments company, has announced the completion of the acquisition of a controlling stake in its business by CVC Capital Partners from a group of investors led by Investcorp, which still remains as a shareholder.
Skrill is a provider of digital wallet technology, their customers can make mobile and online payments without revealing personal financial data. It also provides a safe way to send and receive money online.
Commenting on the completion of the acquisition, Peter Rutland, senior managing director of CVC Capital Partners says, “Skrill has continued to impress CVC with its growth and strategy to respond to the opportunities from the increase in digital transactions. The company has demonstrated its ability to meet and influence the emerging needs of customers and merchants, and has shown both insight and innovation in order to adapt to trends such as mobile payments, which are shaping the future of transactions.”
Siegfried Heimgaertner, chief executive officer of Skrill Group, adds, “We are delighted to have reached this milestone in Skrill’s history. The support of CVC demonstrates confidence in Skrill’s strategy and will enable us to remain at the forefront of transforming the way people pay and get paid globally. Skrill will continue to develop products that break down international boundaries between businesses and their customers by enabling transactions in an ever-extending digital world.”
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Oh, what we wouldn't do to know the future! Like Biff and the Almanac in Back to the Future, all we need is a guide. Luckily the team over at Pivotl is on hand to give us one for the future of fintech.
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