ePassi Acquires 2 Key Players to Cement Its Nordic Position for Employee Benefitsby Fintechnews Baltic March 3, 2021
ePassi Payments, a Finnish mobile payment solution for employee benefits, has entered an agreement to acquire Sodexo Benefits and Rewards Services’ (BRS) business in Nordics, including Sodexo Pass Sweden and the Finnish company Eazybreak.
Bregal Milestone remains the majority shareholder of ePassi Payments. As part of this transaction, Sodexo will reinvest and become a 15% shareholder of ePassi.
Through these acquisitions, ePassi will reportedly further strengthen its position in the Nordics, nearing a userbase of 1.5 million.
The combined entity will have close to 9,000 clients, more than 35,000 affiliated merchants, and a Gross Merchandise Volume of approximately EUR 350 million.
The ePassi Group also continues its expansion in mobile wallet solutions. Over the past three years, the company has signed significant cooperation agreements with major international players, including mobile wallet giants Alipay and WeChat.
“Demand for fully digital and mobile-based employment benefits has accelerated during covid-19 and beyond. We are extremely excited about today’s news and warmly welcome the two great teams at BRS Sweden and Eazybreak to the ePassi group.
This acquisition reinforces our leadership position across wellness, healthcare, and meals; this makes us a true one-stop-shop payments provider for all our current and future clients”,
said Pekka Rantala, CEO, ePassi Group.
“Eazybreak Oy and BRS Sweden will accelerate ePassi’s ambition to become the world’s leading account-to-account payments provider for employee benefits.
With our new extended payments license awarded in 2020, and the recent acquisition of Gazelle winner Actiway in Sweden, we look forward to broadening the depth and breadth of our digital products and services to provide the best solution and user experience for our customers”,
said Cyrus Shey, Co-Founder and Managing Partner of Bregal Milestone and board member, ePassi Group.
Featured image: Åsa Severgårdh CEO, Sodexo Benefit and Reward Services, Sweden (left), Pekka Rantala, CEO ePassi Group and John Lindström, Managing Director Eazybreak (right).
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