Shift4, an integrated payments and commerce technology firm, has officially sealed its acquisition deal with Finaro.
Shift4’s aim to Shift4, an integrated payments and commerce technology firm, has officially sealed its acquisition deal with Finaro. expand its total addressable market, both geographically and across different industry verticals, is being actualised with the acquisition of Finaro. The exact monetary value of this deal remains undisclosed.
Shift4 stands out as a global authority in integrated payments and commerce technology. They are pioneers in creating seamless transaction solutions for a multitude of businesses. On the other hand, Finaro brings to the table its extensive experience as a cross-border ecommerce payments provider. Furthermore, with its status as a fully licensed bank, it boasts a considerable presence in Europe, reinforcing its credentials in the financial domain.
This strategic move will see Finaro fuelling Shift4’s international foray into Europe and potentially beyond. This acquisition is not just about geographic expansion; it is also about amplifying Shift4’s cross-border ecommerce capabilities. This alliance will pave the way for the provision of a cohesive global payments platform for a vast network of merchants and partners globally.
The collaboration will enable Shift4 to offer its card-present technology across Europe, which includes its notable SkyTab restaurant point-of-sale system and the VenueNext stadium solution. It’s worth noting that Shift4 has an impressive portfolio of over 500 software integrations and a client base of over 200,000 merchant customers. A significant portion of these clients have a multinational presence, offering ample international opportunities that will now be harnessed following this acquisition.
Shift4 CEO Jared Isaacman said, “Finaro is highly complementary to Shift4 in terms of geographic coverage, capabilities, and addressable markets. It also empowers us to follow our existing strategic customers into new markets which represents a significant opportunity. By coupling Shift4’s card-present solutions with Finaro’s strengths in cross-border ecommerce, the combined organisation offers a truly unified commerce experience that can compete with the biggest payments companies in the world.”
Mr. Isaacman continued, “With Finaro’s tech centre based in Israel, we realise that this comes during an extremely difficult time for those employees and their loved ones. The ability to work together during these trying times is a testament to the talent and character of everyone on the Finaro team. We are proud to welcome them into our Shift4 family.”
Finaro CEO Igal Rotem said, “Having led the business from early on, I’m proud of how significantly we’ve grown Finaro over the past decade and thrilled to see the completion of this acquisition. I’m confident that Finaro’s best-in-class technology, talent, and capabilities will successfully merge into Shift4 and enable the combined organisation to become a global leader in the payments space. I want to thank Finaro’s devoted and talented Management Team and all our outstanding employees for bringing us to this point and I look forward to seeing where the company goes from here.”
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