Swedbank buys 'unique' PayEx

Swedbank has bought payment provider PayEx. The acquisition is financed with the FI’s internal resources and is subject to approval by regulatory authorities, including the Swedish Financial Supervisory Authority and the Swedish Competition Authority.

“PayEx is a unique company and we are glad to make this acquisition. There is great competence and knowledge in the company and we will continue the positive development of the company together,” says Birgitte Bonnesen, President and CEO at Swedbank.

PayEx is a privately owned group that comprises a number of companies with around 500 employees in four countries: Sweden, Norway, Denmark and Finland. It offers payment solutions for online, mobile and physical retail as well as administrative services related to invoicing, ledger-handling and debt collection. PayEx also provides financial services such as factoring, part-payments and loans.

“We look forward to rapidly increasing the customer value for the customers of both parties in cooperation with Swedbank. Swedbank invests in the company that Max Hansson has built for 45 years,” comments Raymond Klavestad, President and CEO at PayEx.