The internet browser maker, Opera, has acquired the Estonian fintech startup, Pocosys, that provides banking technology to other fintech companies.
In addition to Pocosys, Opera also entered into the agreement to take over Pocopay, a sister company of Pocosys that provides financial services in the European Union.
With these acquisitions, Tallinn will become Opera’s second European hub for fintech services, following Gothenburg, Sweden.
“The way we use financial services is starting to change rapidly,” Krystian Kolondra of Opera said in a statement. “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.”
“Estonia is a great place to attract talent for any European fintech efforts,” Indrek Neivelt, the founder of Pocosys, added. “The country is among the most digitised countries in the world and is a thriving centre for fintech startups.”
Founded in 2015, Pocosys provides banking technologies to fintech companies. It has previously licensed its financial software to companies in Japan, Ghana and the UK. In 2019, Pocosys was named among the top three IT software companies in Estonia by the Estonian business newspaper, Äripäev.
Opera is an internet brand with over 350 million average monthly active users.
The cover image courtesy of Opera.