Danish fintech Clearhaus secures UK license

In the wake of Brexit, the Danish payment institution Clearhaus has secured a license which gives the Danish acquirer access to the burgeoning UK market.

The license, issued by the UKFCA, allows Clearhaus to continue to provide its payment solutions to webshops in the UK market. The same way as Clearhaus does in the rest of Europe.

Claus Methmann Christensen, CEO of Clearhaus commented: “We have been preparing for this moment. The UK market is incredibly important to us and we can see that the Brits appreciate our technology-driven payment platform.”

The results of Clearhaus’s Brexit license are already clearly visible. In January 2020, a record number of UK companies applied to become Clearhaus customers. The company has observed an increase of more than 70 percent compared to the previous year.

Christensen added: “Our competitors in the UK market may be a little bit too slow for many regular UK online businesses who just want to sell their goods online quickly and smoothly. UK customers want the best solution – even if it is on the mainland. Maybe that’s why we see a huge influx of British customers to our platform.

“It is an interesting development that a growing number of UK customers are choosing Clearhaus in the wake of Brexit. And it tells us that foreign and Danish solutions are still needed in the UK market.

Brexit was predicted to ensue red numbers on the bottom line for Danish companies. But at the beginning of Brexit it seems companies like Clearhaus thrive.

Expert Analysis: The significance of this acquisition underlines not only that Clearhaus is moving in the right direction, but also that the UK market is maintaining substantial attraction to fintechs and financial companies after Brexit.