Open banking payments provider Ordo has been fully acquired by Nordic company Neonomics.
The London firm, a regular on our FinTech 50 ranking, was founded by the former management team of the UK Faster Payments scheme.
Authorised by the FCA, Ordo delivers a wide range of payments and data services including variable recurring payments. It is an official crown services supplier.
Fintech Innovation AS, the parent company of Neonomics AS, has acquired 100% ownership of The Smart Request Company Limited, trading as Ordo. The transaction is fully approved by financial regulators in both the UK and Norway.
“We are proud to join forces with one of the most well positioned independent open banking providers in Europe, to jointly scale our offering to both existing and new customers across the UK and Europe,” said Fliss Berridge, co-founder and managing director of Ordo.
“The two teams bring a wealth of experience in developing tailored solutions in a complex and highly regulated environment at what we believe will be among the industry´s most competitive commercial terms.”
Headquartered in Oslo with a presence in London, Stockholm and Helsinki, Neonomics – founded in 2017 – was seeking a strategic partner to further accelerate its growth and expand its ability to offer services in the UK and beyond.
Christoffer Andvig, founder and CEO, stated: “The team at Ordo represents some of the most experienced payments experts in the UK, having a leading voice across many of the most important forums that span the UK and EU in shaping how open banking will evolve.
“This acquisition strengthens our commercialization strategy and time to market while expanding our product offering.”