Mahindra Incubator Based Startup TerraPay Acquires UK Based Pay2Global
TerraPay today said it has acquired UK-based Pay2Global, a move that will help the Mahindra Comviva incubated company fast-track its entry into the European market.
However, the company did not disclose the deal size.
Pay2Global is a regulated digital international money transfer company with rights into the European Economic Area (EEA).
"We have completed the acquisition of Pay2Global Limited, following regulatory approvals. Europe is one of the biggest regions for money transfer accounting for an estimated quarter of global remittance flows," TerraPay founder and CEO Ambar Sur said.
This acquisition will help TerraPay instantly scale service footprint in the 32 countries of the EEA with a range of money transfer products, he added.
He, however, declined to comment ...