Amsterdam-based TerraPay a global mobile-first payments service is acquired for €8.3 million.

Digital Payment Technology May 30, 2020
Amsterdam-based TerraPay a global mobile-first payments service is acquired for €8.3 million.

Amsterdam-based TerraPay a global mobile-first payment service that allows anyone anywhere, to send money to a mobile number cheaply and instantly, announced that a consortium of investors including Prime Ventures and Partech Africa, together with management have acquired the company for an undisclosed sum. In addition, the investors, joined by IFC will invest a further €8.3 million in TerraPay to fund the company’s further expansion.

Terapay founded in 2014 in the Netherlands by John Sung Kim, Thomas G. McKinley and Vincent Worms builds cross border payments infrastructure globally, providing a B2B real time cross border payments service for mobile wallets and bank accounts; as well as transaction processing, clearing and settlement services for regional and domestic faster payment systems.

Prime Ventures is a leading venture capital and growth equity firm focused on investing in European companies in the technology and related industries. We leverage our capital, experience and network to actively guide them into global category leaders.

Partech is a global investment firm with offices in San Francisco, Paris, Berlin and Dakar. They bring together capital, operational experience and strategic support for entrepreneurs at seed, venture and growth stages across multiple continents, with over $1.3B investment capacity.

Glen Smale

Glen Smale is a full stack software engineer, entrepreneur and content editor @bundupress. When not writing about tech startups and software trends he works on software projects

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