Allied Irish Bank Buys Minority Stake in Payments Firm TransferMate
Allied Irish Bank (AIB) has invested €30 ($35.3) million in B2B payments platform TransferMate.
The investment has likely brought the valuation of the fintech to €300 million ($350 million), according to reports.
As for Allied Irish Bank (AIB), the investment gives it a minority stake in TransferMate as well as a stronger foothold in the cross-border payments space.
Established in 2010, Kilkenny, Ireland-based TranferMate earlier this year received regulatory approval to operate across the United States. With 165 employees, TransferMate has offices in Ireland, Europe, Australia, and the U.S.
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