EQT VIII and EQT Ventures (collectively EQT) have concluded an agreement to acquire Saxo Payments Banking Circle. The acquisition is made in partnership with the company founders and some of the existing minority investors. EQT becomes the majority owner.
Saxo Payments Banking Circle was founded in 2013. The company has set up a new, high-technological global payments infrastructure which makes it possible to complete international transfers and payments in a quick, simple and efficient manner by using direct clearing access in partnership with large, well-reputed banks. EQT will support the continued acceleration of the company's global growth strategy and expansion of the product portfolio.
The company employs 85 persons in Denmark, Luxembourg and Great Britain and processes annual payments corresponding to DKK 450bn. The ambition is to process the same payment volume as a large global bank.
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