Fabrick acquires mobile payments firm Judopay as it looks to become a market leader in the UK
Fabrick, a European open finance specialist, has announced the acquisition of Judopay, a UK-based mobile payments company.
Terms of the deal were not disclosed.
Judopay, which will continue operating under its own brand, currently handles 60 million+ transactions a year worth over €2 billion and has partnered with the likes of KFC, PaybyPhone group, and Autocab.
The company has also been a launch partner for Apple in launching Apple Pay in-app payments in the UK, and Mastercard (Click2Pay and the Pay by Bank App).
Paolo Zaccardi, CEO, and Co-Founder at Fabrick, comments: "We are excited to begin this new journey with Judopay. Their expertise and visionary mindset are essential for those who, like us, strive to create a new industry built on digitalisation and the growth of companies in an array of industries.”
“We have always seen the governance and development of new payment methods and processes as a cornerstone of the new era of embedded finance enabled by evolving models. In this regard, the platform developed by Judopay seamlessly integrates and enhances our Payment Orchestra solution and is in line with our strategic vision of open payments.”
He adds: “This milestone with Judopay also represents an important marker in Fabrick’s journey to become a market leader in the UK with a robust pan-European presence. The UK remains a significant financial hub and world economy and by deepening our penetration into this market, Fabrick underscores its ambition to provide innovative open payment solutions to customers Europe wide.”
“In the European context the UK has a leading position in the adoption of digital payment tools and is at a high level of maturity, on a global scale it is third place worldwide right after China and the US for total transaction values via digital payments. Fabrick together with Judopay looks forward to serving this large market with best-in-class solutions.”
Jeremy Nicholds, CEO at Judopay, comments: "Joining a company like Fabrick provides a great opportunity for us to enhance our solutions and platform and work with more companies in more markets in Europe. Fabrick has a winning combination of pioneering spirit and ability to implement concrete projects.”
“We are convinced that this collaboration will also bring great value to our customers operating in a variety of sectors - from hospitality to food and beverage to transport and consumer finance. Thanks to the integration of our solution with those of Fabrick we will be able to find new tools and ideas to support and manage their customers and all merchants.”
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