Pay360, a FinTech based in Oldham, Greater Manchester, is being sold to Access PaySuite.
In Brief:
Pay360 is a payments firm that offers an AI-led debt management and payment services.
Access PaySuite is a payments solutions provider based in the UK that focuses on a suite of services for businesses including direct debit processing.
The current owner, Capita plc, will receive around £156mn but according to Prolific North the company is valued at £150mn.
What does this mean?
Pay360 brings with it 2,500 customers across the public and private sectors and a profit before tax for H2 2022 of £3.1mn. It will also being its senior management team.
