U.S. banking and payments technology company FIS is reportedly planning to acquire London-based fintech firm Demica for approximately $300 million. Demica specializes in cloud-based supply chain finance solutions, managing around $40 billion in assets and facilitating real-time payments across more than 30 countries. The acquisition is expected to enhance FIS's portfolio, following its recent purchase of San Francisco-based Banking-as-a-Service fintech Bond.
Key Points:
- Demica's Platform: Provides cloud-based supply chain finance solutions, integrating with multiple bank payment gateways to automate real-time payments in over 30 countries.
- Asset Management: Oversees approximately $40 billion in assets.
- Recent Partnerships: Collaborated with Crédit Agricole Corporate and Investment Bank to launch a new receivables and supply chain finance platform in the APAC region; other partners include Lloyds Banking Group, Mastercard, and HSBC.
- FIS's Acquisition Strategy: The potential acquisition of Demica aligns with FIS's ongoing expansion, including its recent acquisition of Bond Financial Technologies.
