Home > EU > Meath group, Prepaid Financial Services, sold to EML for €327m.

Meath group, Prepaid Financial Services, sold to EML for €327m.

Written by Business World, on 11th Nov 2019. Posted in EU

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Meath-based company, Prepaid Financial Services (PFS), has been sold to Australian payment solutions provider, EML Payments, for €327m.

Prepaid Financial Services, founded by Navan native, Noel Moran, in 2008, operates in 24 countries, and employs around 200 people across Navan, London, and Malta. With headquarters in London, it provides e-wallets, prepaid cards, and digital banking software among other services.

About the deal, CEO of PFS, Noel Moran said: From humble beginnings over a decade ago, PFS started life at a kitchen table and now we are so happy to be listed on the Australian stock exchange as a result of this transaction. It has been a magnificent journey and I am excited about the possibilities and opportunities that this will bring to us over the coming years.”

EML Managing Director and Group Chief Executive Officer, Tom Cregan added: “The acquisition of PFS continues to consolidate EML’s market position as one of the largest FinTech enablers in open banking and prepaid globally."

Source: www.businessworld.ie

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