Crédit Agricole: takes majority stake in Linxo Group
(CercleFinance.com) - Crédit Agricole has said that it has acquired a majority stake in Linxo Group, a fintech specialising in the aggregation of bank data and payment initiation.
The French bank did not specify the financial terms of the deal.
Linxo Group offers API (Application Program Interface) bricks up to complete white label mobile application solutions, meeting the needs of start-ups, banks and insurance companies.
At the end of this deal, which still needs to receive authorisation from the ACPR, Crédit Agricole will hold over 85% of the fintech's capital via Crédit Agricole Payment Services and FIRECA (Fonds d'Investissement et de REcherche du Crédit Agricole).
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The French bank did not specify the financial terms of the deal.
Linxo Group offers API (Application Program Interface) bricks up to complete white label mobile application solutions, meeting the needs of start-ups, banks and insurance companies.
At the end of this deal, which still needs to receive authorisation from the ACPR, Crédit Agricole will hold over 85% of the fintech's capital via Crédit Agricole Payment Services and FIRECA (Fonds d'Investissement et de REcherche du Crédit Agricole).
Copyright (c) 2020 CercleFinance.com. All rights reserved.