Crown Agents Bank announced that it has acquired Flourish portfolio company Segovia, a US-based technology company focused on frontier market payments. The two companies have been working together since 2017 and share a common mission: making payments to and from frontier markets easier, faster, more secure, and cost-effective.
Financial IT shared the news with insights from investors and key players involved in the acquisition.
Michael Faye, CEO and co-founder of Segovia: “Simply put, we’re doing this deal to scale more quickly and more ambitiously. Crown Agents Bank brings an unparalleled frontier market banking network and best-in-class FX; we’ve built a payment gateway for scale and have some of the best engineers working to solve the technical challenges of a less mature payment infrastructure. This combination will allow us to reach, serve and ultimately, improve the lives of even more people.”
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