PayForce is acquired by Nigerian creditfocused fintech FairMoney in a retailmerchant banking deal.
FairMoney, a Nigerian creditled digital banking platform, has acquired PayForce a subbrand of YCbacked CrowdForce, a merchant payment service for smal
FairMoney, a Nigerian creditled digital banking platform, has acquired PayForce a subbrand of YCbacked CrowdForce, a merchant payment service for small businesses. The transaction was a cashandstock transaction worth $15 million to $20 million. Oluwatomi Ayorinde, CEO of PayForce, has joined FairMoney to lead the companys payments business unit, PayForce by FairMoney. As the digital retail and merchant banking space has heated up, both companies flagship products have given way to a slew of new offerings. PayForce began by providing POS devices to merchants and enabling them to offer cashin, cashout, transfer, and bill payments to retail customers while supplying liquidity through a network of partners. FairMoney, on the other hand, began with a digital lending product that offers loans ranging from 15 days to 24 months.
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B2B Tech News | 4 days ago