Blockchain payments platform BitPesa has acquired TranferZero, an international online money platform headquartered in Spain. BitPesa will use its licensing and infrastructure positions in both Africa and Europe to plant deeper roots in Europe as the region is a hub for global remittance and payments companies. Under the acquisition, TransferZero will continue to operate under the same brand name and all of its employees will stay with BitPesa. Its headquarters will remain in Madrid.
The online money transfer platform specialises in sending money to consumers and companies in 200 countries in over 50 different currencies. It is the first fintech company licensed by the Bank of Spain as an authorised payment institution.
The company was founded in 2016 by its current CEO Luis Cambronero who will join BitPesa as an MD. TransferZero has an existing partnership with Bankia – Spain’s third-largest bank.