Coinify, the Danish bitcoin payment company, has acquired its Dutch rival Coinzone in a move that will strengthen its presence in the European Bitcoin market.
The transition will take place in August and Coinify says it will be “business as usual” for all Coinzone merchants and partners.
“Coinzone’s established presence in Europe, especially in the most active countries of France, Germany, Spain, Italy and Romania, and the recent market entries in the U.K., the Czech Republic and Poland – is 100% in line with our strategy to accelerate the expansion in these important markets,” said Christian Visti, CFO and head of Strategy, Coinify.
Coinify has previously been active with acquisitions as a method for achieving growth. In September 2014, when the company secured a multi-million capital injection by SEED Capital and Accelerace Invest, Coinify unified consumer and merchant services by purchasing technologies and the customer base from the trade platform, Bitcoin Nordic, and merchant services pioneer, Bitcoin Internet Payment System.
“We reached out to Coinify as we believed that we could strengthen the position of a European-based Bitcoin provider. Coinify has a strong financial management team, supportive investors behind it, and together with the strong position that Coinzone has built over the last few years, we look forward to even more growth with Coinify,” said Manuel Heilmann, CEO of Coinzone.
Coinify is also currently preparing for a series A investment to accelerate the expansion even further.
There’s more signs of consolidation in the crowded European payments space with news that Stockholm-based iZettle is buying a company called intelligentpos.
MasterCard has bought Vocalink for £700m ($920m) in a deal that has been rumoured for months.
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