Monese, a London, UK-based provider of a mobile app with a multi-currency account, acquired Trezeo, a Dublin, Ireland and London, UK-based specialist financial services provider for the self-employed.
The amount of the deal was not disclosed.
The acquisition, the first by Monese, it is part of a wider push into credit and lending for independent, self-employed workers and those with untraditional lives and work. Following the combining of Trezeo, Monese will have a team on the ground in Ireland and will be launching credit and lending in the UK.
Founded in 2016 by Garrett Cassidy and Flavien Charlon, Trezeo offers a subscription-based income smoothing and digital financial safety net to the UK’s independent workers, gig workers and the self-employed. It is an FCA authorised lender and backed by experienced investors and partners including Barclays, through its accelerator powered by Techstars; Ireland based startup accelerator program NDRC; and Nationwide through its Open Banking for Good challenge.
Led by Norris Koppel, Founder and CEO, Monese provides banking tools for people who live, work, travel, study and send money abroad. Its mobile app offers accounts users can open instantly and tools to manage their money they need every time they cross a border on a map. The company has over 2 million sign-ups across 31 countries.