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Payments General

EQT to acquire Saxo Payments Banking Circle

Monday 9 July 2018 | 01:47 PM CET

The EQT VIII fund and EQT Ventures fund have agreed to acquire Saxo Payments Banking Circle from Saxo Bank, with EQT VIII having majority ownership.

Founded in 2013, Banking Circle is a provider of infrastructure for online cross-border payments. Today, Banking Circle is processing around EUR 60 billion run-rate annual payment volumes for several customers using direct clearing access through partnerships with banks.

EQT says it will support the acceleration of Banking Circle’s growth strategy, in current and new geographies, as well as the expansion of the product portfolio. Banking Circle’s current management team will continue to lead the organisation. The transaction is expected to close in Q4 2018, subject to approval from financial regulators.

More: Link
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