ASX listed FinTech Change Financial is buying two Wirecard business units in Australia and New Zealand.
In Brief:
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Wirecard NZ and Wirecard Australia were two subsidiaries of the German group that collapsed into insolvency earlier this year.
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Change Financial is a Banking-as-a-Service (BaaS) FinTech.
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It will acquire the two businesses for $7.8mn.
What does this mean?
Change Financial expects to gain scale from the acquisition which will add 120 customers and capability in over 35 countries.
