UK based money transfer provider Small World Financial Services, backed by Equistone Partners Europe, has announced the acquisition of MoneyGlobe, a French international payments company.
The transaction represents the first acquisition made by Small World since Equistone, one of Europe’s leading mid-market private equity firms, invested in the company in November 2018.
Nick Day, Chief Executive and Founder of Small World, said: “We identified MoneyGlobe as a fantastic addition to our business, due to its strong growth to date and established presence in France, a large market where we were looking to strengthen our position.
“As well as complementing our global coverage, MoneyGlobe is an excellent cultural fit, with its team sharing our commitment to delivering great customer service and fast and reliable transfers.
“We continue to actively seek acquisition opportunities across a range of countries globally, in order to further enhance our customer proposition and extend our payments network.”
MoneyGlobe has established a strong position in the French international payments market, enabling the movement of money from France to recipients in regions including North Africa, West Africa, the Caribbean and South America.
The acquisition enhances Small World’s existing footprint, adding coverage of the French market to an extensive money transfer network that currently processes 15 million transactions worldwide each year.
