Latvia

SaltPay Acquires Two Latvian Companies to Establish Engineering Hub in Riga

by Fintechnews Baltic December 12, 2022

SaltPay, a UK-based Fintech company that provides affordable and secure payment and software solutions for small and medium-sized businesses, has announced that it has acquired two Latvian firms, MeaWallet and A-Heads Consulting. This acquisition is part of SaltPay’s plan to establish a new engineering hub in Riga.

MeaWallet is known for its card tokenisation platform and SoftPOS solutions, while A-Heads Consulting helps financial institutions in the Baltics to integrate and launch payment and banking solutions. With the acquisition of these two companies, SaltPay will be able to tap into their expertise and local knowledge as it expands its presence in the region.

SaltPay was founded in 2019 with the goal of helping small businesses, which are often overlooked by banks and traditional service providers, to access the financial services and software they need to grow and thrive. In just three years, SaltPay has grown significantly. It now has 2,000 employees across 15 countries and serves more than 300,000 merchants.

The acquisition of MeaWallet and A-Heads Consulting is part of SaltPay’s plan to expand its engineering capabilities. Riga will join SaltPay’s existing engineering hubs in Porto, Cape Town, and London, and will be focused on building parts of the company’s global product platform. That includes payment acquiring, merchant account services, card issuing, payment gateway, EPOS, website builder, CRM and loyalty, online visibility tools, booking management, and tax-free services.

SaltPay’s investment in Riga includes plans to expand the local office and hire more employees in the next two years. The company is looking for engineering and product talent to join its team and help it achieve its mission of serving local businesses.

Featured image credit: Edited from Unsplash