SafeCharge offloads minority interest in FinTech

16 June 2016

SafeCharge has sold its minority stake in financial services technologies company FinTech Group.

Although SafeCharge opted not to disclose the full financial details of the deal, it did confirm the sale will result in the realisation of a small profit for the firm.

SafeCharge originally acquired the stake in FinTech in June of last year for a cost of approximately €10 million ($11.3 million).

In a statement, SafeCharge said that the sale will not impact the financial services that it offers to customers, with the firm now offering its retail and corporate customers banking services through a partnership with Saxo Payments.

Confirmation of the sale comes after SafeCharge in March revealed impressive financial figures for the year ended December 31, 2015, with revenue up 30% year-on-year to $99.8 million and gross profit also climbing by 30% to $57.7 million.

Related article: SafeCharge on track for further growth after 2015 success