Context
Korta has operated in the fintech and payments space for almost two decades. Founded in 2002 as a payment service provider, it became a principal member of Visa and Mastercard in 2013. This enabled Korta to offer complete payment and acquiring services for the two largest payment card platforms in the world. The next step in Korta’s development was in 2015, when it expanded into cross-border online payments.
To help it find a path forward amidst the continuing consolidation in fintech and payments, Korta appointed Bryan, Garnier & Co in 2019.
Several potential investors and buyers were approached, with UK-based fintech unicorn Rapyd ultimately identified as the best fit.
Backed by notable investors such as payments giant Stripe, Rapyd offers a Fintech-as-a-Service platform and a global payments network and sees Korta as integral to further strengthening its offer.
About Korta
Korta is a European merchant acquirer that provides in-store and online payment services for consumers and businesses, as well as a card-linked recurring payment system.
Korta was founded in Iceland in 2002 as a Payment Service Provider (PSP). In 2013 the company moved further up the value chain and started its own acquiring activities – becoming a Merchant Acquirer and a Principal Member of VISA and Mastercard. The company expanded its services in 2015 and began cross-border eCommerce activities.
Deal Team
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co acts as Sole Financial Advisor to the shareholders of Korta on the sale of the company to Rapyd
Bryan, Garnier & Co acted as Sole Financial Advisor to Korta. The team worked together with Korta’s shareholders in the sales process of the company.
Bryan, Garnier & Co assisted the shareholders of Korta in preparing documentation, finding the best buyer, coordinating, and organizing due diligence efforts and negotiating the transaction.
This marks another landmark transaction for Bryan, Garnier & Co’s Financial Services Practice notably after advising Groupe Credit Agricole on its acquisition of Linxo Group, the acquisition of leading independent debt collection specialist Recocash by IK Investment Partners and sale of the life-insurance policies management platform Quality Insurance Services (QIS) to CNP Assurances.
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