Notice: Function amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `amp_init` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the plugin with slug `schema-and-structured-data-for-wp` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/u885321871/domains/fintechinshorts.com/public_html/wp-includes/functions.php on line 6114

Notice: Function amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `amp_init` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the plugin with slug `schema-and-structured-data-for-wp` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/u885321871/domains/fintechinshorts.com/public_html/wp-includes/functions.php on line 6114

Notice: Function amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `init` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the plugin with slug `schema-and-structured-data-for-wp` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/u885321871/domains/fintechinshorts.com/public_html/wp-includes/functions.php on line 6114

Notice: Function amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `init` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the plugin with slug `schema-and-structured-data-for-wp` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/u885321871/domains/fintechinshorts.com/public_html/wp-includes/functions.php on line 6114
Finseta offloads non-trading subsidiary Capital Currencies to undisclosed buyer for £150,000 | Fintech InShorts: Latest fintech news, analysis by experts

Finseta offloads non-trading subsidiary Capital Currencies to undisclosed buyer for £150,000

BankingBusinessFinTech

Less than 1 min.Read

Finseta offloads non-trading subsidiary Capital Currencies to undisclosed buyer for £150,000

June 12, 2024

Summary of Finseta’s Sale of Capital Currencies:

Transaction Overview:
- Finseta (formerly Cornerstone FS) sold its non-trading subsidiary, Capital Currencies, for £150,000 in cash.
- The buyer’s identity has not been disclosed.
Background and Rationale:
- Announced the sale in September 2022, citing it as a move to realize value from a non-core asset.
- Initially acquired Capital Currencies in February 2022 for £586,000, with a potential total consideration of £3 million.
Assets Included in the Sale:
- Capital Currencies’ customers (primarily UK corporates and larger SMEs).
- UK API licence.
- Team and founder, Craig Strong (now Finseta’s director of business development).
CEO Statement:
- James Hickman, CEO of Finseta, stated the sale strengthens the company’s cash position and enhances its ability to capitalize on current business momentum.
Previous Sales:
- Sold its e-money institution subsidiary, Avila House, to Aspire Commerce in January 2023 for £600,000.

Hot this week

Topics

Related Articles

Popular Categories

FinTechBankingBusinessFundingAIPaymentsPartnership

Previous article

Peru becomes first South American country to adopt NPCI’s UPI tech

Next article

Fabless AI chip makers Rebellions and Sapeon to merge as competition heats up in global AI hardware industry

Exit mobile version