Finnish ePassi Payments Oy, a mobile payment solution for employee benefits, acquired ActiWay Ab, a market leader for wellness allowance systems in Sweden.
The amount of the deal was not disclosed.
With the acquisition of ActiWay, ePassi Group continues its expansion in mobile wallet solutions. It has recently signed a number of significant cooperation agreements with major players, including international mobile wallet giants Alipay and WeChat, while continuing to seek additional growth opportunities. The deal grows its user base to over a million active users in total and increases revenue to approximately €150m. ePassi Group’s subsidiary ePassi Sweden and ActiWay will continue their growth path together in Sweden.
Niclas Jernberg, the current CEO of ActiWay, will lead the combined business of ePassi Sweden and ActiWay. Jernberg will also invest in and become an owner in ePassi Group.
Established in 2007, ePassi Payments Oy is a pioneer in mobile payment systems for employee benefits and has since expanded into a universal mobile payment service used by tens of thousands of merchants in restaurants, sports, culture, wellness and public transport accept ePassi mobile payments in Finland and Sweden.
ActiWay focuses on offering an ID card based digital system for payment, administration and follow-up activities on the market for wellness allowance, bicycle benefit and private healthcare with over 320,000 users and over 8,000 registered wellness suppliers.
FinSMEs
07/03/2020