An Ottawa fintech firm that provides mobile financial services to “unbanked” customers in Africa, Asia and the Middle East says it’s poised to make a major push into the Latin American and Caribbean markets under the leadership of a new CEO.
Telepin Software’s secure digital wallets allow users to transfer money, buy merchandise and pay bills even if they don’t have a bank account. The company says more than 256 million customers use the platform, which is deployed at more than one million merchants.
Founded in 2006, Telepin is already a major player in Africa and Asia, where mobile phone penetration rates are often well above 100 per cent while many financial transactions are still carried out in cash. In 2017, the firm was acquired by Toronto-based Constellation Software, a publicly traded company with annual revenues of more than $3 billion.
An Ottawa fintech firm that provides mobile financial services to “unbanked” customers in Africa, Asia and the Middle East says it’s poised to make a major push into the Latin American and Caribbean markets under the leadership of a new CEO.
Telepin Software’s secure digital wallets allow users to transfer money, buy merchandise and pay bills even if they don’t have a bank account. The company says more than 256 million customers use the platform, which is deployed at more than one million merchants.
Founded in 2006, Telepin is already a major player in Africa and Asia, where mobile phone penetration rates are often well above 100 per cent while many financial transactions are still carried out in cash. In 2017, the firm was acquired by Toronto-based Constellation Software, a publicly traded company with annual revenues of more than $3 billion.
This marks the company’s first foray into the British investment market
Pensions and investment software business Selectapension has been acquired by Perseus Operating Group, part of Toronto-based Constellation Software, for an undisclosed sum.
The retirement business will continue to run out of its office in Crowborough, in east Sussex.
The deal marks Perseus Group’s first ventures into the UK pension and investment sector.
‘Maintain market independence’
Chia Loh, vice president of Perseus, said: “We are excited to have Selectapension’s employees and customers join the Perseus family. Not only are we entering a new vertical with the addition of Selectapension, but their experienced team and dedication to innovative products for their customers makes them a strong addition to Perseus and creates a foundation for future growth.”