expands Estonia footprint with Icefire acquisition

Payments solutions provider has purchased Estonian software development firm Icefire for an undisclosed fee.

Founded in 2002, Icefire designs and builds technologies for businesses. The company specialises in providing business-driven digital transformation, innovation, financial technology solutions and working alongside the data-driven economy.

According to, the acquisition will see the company 110 new engineers join the firm’s global technology teams to help accelerate the delivery of key products and features as aims for 60% growth in its technology department.

The company added that Tallinn – the Estonian capital – will become its second-largest engineering hub through the purchase, behind its headquarters in London.

Furthermore, claims the acquisition will serve its merchants with in-market expertise to empower them to scale more easily in global markets and achieve optimal payments performance. remarked it has seen demand for its payment solutions climb to an all-time high over this last year, with transaction volume tripling. CTO Ott Kaukver said, “Icefire has an outstanding track record of building complex, modular financial systems over the past 18 years. Their proven experience is complementary to what we are building at, to empower the enterprises with better payments.”

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