Sentenial Group acquired by EML

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Australian fintech firm targets Open Banking with Nuapay purchase

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7 April 2021 | 0

Sentenial Group, parent company of Sentenial and Nuapay, has been bought by EML Payments in a deal worth €70 million.

The purchase gives the Australian fintech a foothold in the European payments management and Open Banking sectors.

Sean Fitzgerald, founder & CEO at Sentenial, said: “Nuapay’s mission is to be the best way to pay and get paid. We are proud to have developed a market-leading account-to-account and Open Banking payments platform over nearly two decades in business. The revolution in payments caused by Open Banking and real-time payments is rapidly building momentum globally, and we are hugely excited by this opportunity to move to a global scale as part of EML. From the moment EML approached us, we’ve been impressed by their vision, ambition and growing ecosystem.”

 

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Tom Cregan, EML managing director & group CEO, said: “EML has transitioned over the years from primarily a gift-card company to a company with a diverse revenue base across multiple prepaid products. The acquisition of Sentenial will be the next evolution for EML, as we transition into a broader payments business by adding instant account-to-account (Open Banking) payments into our suite of solutions for current and prospective customers.

“Sentenial is a European business today, and we will be working to extend its platform to our other regions in the coming 12-18 months… Geographically, with its principal office in Ireland and offices located in London, Paris, Brussels and Krakow, Sentenial fits well with EML.”

The deal is subject to regulatory approval.

TechCentral Reporters


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