Equistone Partners Europe said Dec. 3 that has closed its buy of Small World Financial Services Group Ltd. Financial terms weren’t announced. Small World Financial, of the U.K., is a payment service provider. FPE Capital and MMC Ventures were the sellers, PitchBook said.
London, 3 December 2018 – Small World Financial Services Group Ltd (Small World), a leading international omni-channel payment service provider, is pleased to announce the completion of the purchase by Equistone Partners Europe, previously announced 26 March 2018.
Small World has made use of cutting-edge technology for a quick and secure payment experience, low charges and competitive exchange rates for its customers. Via its global physical network of 84 stores, over 7,000 third-party agents and its high-growth digital channels, through both app and web in 21 countries, Small World provides choice and convenience to millions of customers, in over 188 countries worldwide.
Since being founded by CEO Nick Day in 2005, Small World has assembled an extensive proprietary international payments infrastructure, providing customers with access to instant account credits, cash collection through a worldwide banking network and instant payments to mobile wallets.
Small World places strong emphasis upon regulatory compliance, relationships with partner banks, and innovative technology to provide a fast, reliable, and good value service to its customers. Small World currently employs c.760 people across 18 countries and generates revenues in excess of £110m.
Nick Day, Chief Executive Officer of Small World, said:
“The partnership with Equistone will continue to accelerate the achievement of our goals and provide the funding to drive future growth. We believe we are well-positioned to continue growing and are focused on extending our multi-channel service proposition into new territories, as well as pursuing bolt-on acquisitions and launching new payment corridors. Our expanding digital presence will also support the increasingly digitalised needs of our customers through convenient alternative payment solutions. We look forward to continue to work closely with the Equistone team.”