- Merger Details:
- Alisa Bank in Finland is set to acquire invoice financing fintech Puro Finance through a share exchange.
- The acquisition will result in Puro Finance becoming a subsidiary of Alisa Bank.
- The transaction will give Puro Finance’s shareholders a 40% stake in the combined entity, valued at €10.4 million.
- Continued Operations:
- After the merger, Puro Finance will continue to operate its invoice financing service, offering support for invoicing, financing, credit insurance, collection, and bookkeeping functions.
- Strategic Focus:
- Alisa Bank’s strategy post-merger will primarily concentrate on expanding digital banking and finance services for SMEs.
- The bank aims to promote its Banking-as-a-Service (BaaS) and corporate lending operations, targeting 25% annual growth in corporate lending through 2026.
- Leveraging Puro Finance’s partner network, including its largest shareholder Accountor, Alisa Bank plans to tap into new growth opportunities in customer volumes.
- Partnership Opportunities:
- Alisa Bank has agreed with its largest shareholder, Accountor, to launch integrated banking services for Accountor’s clients.
- The bank will explore cooperation with other finance service providers to expand its offerings further.
- Key Drivers:
- The merger is driven by objectives such as capital-efficient growth, increased customer volume, technological innovation, and synergies between the two entities.
- CEO Statement:
- Juha Saari, interim CEO of Alisa Bank, believes that the merger will generate significant synergies in the short and medium term, enhancing the bank’s profitability and growth potential.
Alisa Bank snaps up invoice financing fintech Puro Finance to bolster SME services
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