Norway's Opera acquires Estonian startup PocoSys to expand its fintech operations

Norway's Opera acquires Estonian startup PocoSys to expand its fintech operations

Opera, a global browser provider with headquarters in Norway, has acquired the Estonian startup PocoSys, which has developed a banking-as-a-service software.

Opera, as a consumer technology company with over 50 million monthly active users in Europe, sees a lot of potential in the fintech space. By acquiring PocoSys, the company seeks to foster future collaboration and easier integration between its browser and fintech businesses.

“The way we use financial services is starting to change rapidly,” said Krystian Kolondra of Opera. “We see a lot of potential for better and easier services. Needless to say we are excited about our future fintech plans associated with Pocosys and our existing brand.”

The deal includes an agreement to also take over Pocopay, the startup’s sister company, which holds a payment institution license and provides financial services in the European Union. With these acquisitions, Tallinn will become Opera’s second European hub for fintech services, following Gothenburg, Sweden.

“Estonia is a great place to attract talent for any European fintech efforts,” said Indrek Neivelt, founder of Pocosys. “The country is among the most digitized countries in the world, and is a thriving center for fintech startups.”

The acquisition closed on January 17, and the Norwegian company has entered into a commercial relationship with Pocopay, pending a second closing upon approval by the Estonian Financial Supervisory Authority.

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