Offering corporate payments and card solutions to manage and simplify payroll, London-headquartered B4B Payments has been acquired by EQT-Ventures owned Banking Circle. Subject to a standard regulatory approval process, B4B will remain independent and operate as a sister company in tandem with Banking Circle.
A B2B payments bank utlilised by Stripe, Shopify, and Paysafe, with the addition of B4B’s offer, Banking Circle will comprise a unique industry offer, providing highly scalable issuing and payment solutions across the entire value chain.
On the acquisition Banking Circle Group CEO Anders la Cour commented, “We are very excited that B4B is joining the Banking Circle ecosystem. Banking Circle is growing rapidly in both its customer base and its service offering, and B4B Payments is a natural extension of that evolution. Together with B4B, we can provide banks and payments businesses with additional capabilities such as card issuing, built on top of our core platform of payments, accounts, and liquidity. We look forward to working closely with the B4B team.”
No management changes are planned at B4B, however, Banking Circle's Tom Jennings and Brian Lawlor, both with over 15 years of experience within the payments and issuing industry, will join B4B’s management team to help scale the business.