Fleetcor Technologies, a business payments firm, has completed the acquisition of cross-border payments company Global Reach.
With the acquisition, Fleetcor will increase its cross-border payments scale and strengthens its position as a leading non-bank B2B global cross-border payments provider.
Global Reach facilitates international payments for customers of all sizes across a variety of industries. This acquisition bolsters Fleetcor’s cross-border payments footprint in the UK, EU and Canada. Today, Fleetcor processes cross-border payments in more than 145 currencies for approximately 27,000 customers worldwide.
Fleetcor CEO and chairman Ron Clarke said, “Since entering the cross-border payments space five years ago, we’ve built a market-leading cross-border payments business that will play an important role in our growth moving forward. The acquisition is expected to be immediately accretive in 2023.”
Fleetcor group president of cross-border solutions Mark Frey added, “We’re very excited to welcome Global Reach and its talented team to the FLEETCOR cross-border family under our Corpay brand. With the acquisition, we can better serve our customers while continuing to expand our presence in a number of core geographic markets.”
FLIK, an Indonesian FinTech platform that offers a unified checkout solution, has reportedly secured $1.1m in its pre-seed funding round.
FLIK provides companies with a frictionless checkout system. For shoppers, the platform serves as an all-in-one account for all e-commerce, removing the need to manage separate accounts. It boasts that customers can complete a purchase with a one-click checkout on sites they have never shopped at before.
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