SAN FRANCISCO--(BUSINESS WIRE)--
KoreFusion acted as exclusive adviser to The Bancorp, Inc. (NASDAQ: TBBK), a financial holding company based in Wilmington, Delaware, in the sale of Transact Payments Ltd. (TPL), its wholly owned UK-based European prepaid subsidiary and licensed electronic money institution, to Neptune International Ltd., a private investment firm. Terms of the transaction were not disclosed; the deal was completed and approved by regulators in April 2017.
Jeremy Kuiper, Executive Vice President and Head of Payment Solutions at The Bancorp, said, “KoreFusion’s expertise in the payments arena facilitated our transaction in an accelerated fashion. The engagement — from assessing our asset, identifying and vetting a diverse and qualified set of potential buyers, and assisting in navigating the M&A process and closing the transaction — demonstrates the strength of competency and capabilities that made the deal possible and gave us an overall deep appreciation for the KoreFusion team.”
KoreFusion is the only firm that combines strategy consulting and M&A advisory services for the international fintech, payments and financial services industries.
Yogesh Oka, a Founding Partner of KoreFusion, said, “Our deep domain expertise in fintech and payments, combined with our ever-growing network of strategic and financial buyers, enabled KoreFusion to work alongside The Bancorp’s senior management team to sell TPL to Neptune, a highly respected and well-qualified buyer. KoreFusion worked successfully with The Bancorp and TPL’s senior management to demonstrate to prospective buyers the value of adding TPL to their specific portfolios and operations.”
About KoreFusion
With a presence in six international locations, KoreFusion is the only firm that combines strategy consulting and M&A advisory services exclusively for the international fintech, payments, and financial services industries.
About The Bancorp Inc.
The Bancorp is dedicated to serving the unique needs of non-bank financial service companies, ranging from entrepreneurial startups to those on the Fortune 500. The company’s chief financial institution, The Bancorp Bank (Member FDIC, Equal Housing Lender), has been repeatedly recognized in the payments industry as the Top Issuer of Prepaid Cards (U.S.), a top merchant sponsor bank, and a top ACH originator. Specialized lending distinctions include National Preferred SBA Lender, a leading provider of securities-backed lines of credit, and one of the few bank-owned commercial fleet leasing groups in the U.S.
About Transact Payments Ltd.
Transact Payments Limited (TPL) is a licensed European e-money institution providing payment solutions to partners across the world and from different industries and sectors. TPL is regulated and authorized by the Gibraltar Financial Services Commission and is a Principal Member of both MasterCard® and Visa® in Europe, providing European BIN sponsorship and modular payment, debit, and prepaid services. TPL’s licenses have been successfully passported into every EU and EEA member state, enabling the issuance of prepaid card programs across Europe, physical and virtual. Offering secure, creative and innovative payment and card solutions, TPL is “Payments Made Simple.”
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