MeaWallet completes refinancing

Source: MeaWallet

Digital payment solutions provider, MeaWallet, today announces the completion of its transition into a refinanced independent entity, following a management buyout enabled by a substantial capital injection from venture capital firm Idekapital Fund 1.

The refinancing enables MeaWallet to further develop its digital payment solutions for issuers, processors and payment-service-providers, and continue to provide uninterrupted service for its customers.

“The management buyout and backing of Idekapital has given us the freedom and resources to reposition the business for growth in 2019,” says Lars Sandtorv, CEO, MeaWallet. “Our digital payments platform is already known for its great user experience, ease of integration and powerful tokenization features. We are now focused on extending these points of difference through further development, which will benefit our existing customer base and also enable other European payments firms to capitalize on our feature-rich digital services quickly and easily.”

Idekapital strategically invests in rapidly growing Norwegian technology companies. The fund currently has a portfolio of ten companies, comprising Software-as-a-Service firms and other specialist tech businesses.

“Idekapital has observed with interest the ongoing changes within the payment industry and sees the products of MeaWallet as strategically positioned in this landscape. Therefore, we are enthusiastic to become a significant investor in this company,” says Managing Partner, Anders Brandt, Idekapital Fund 1.

MeaWallet develops globally recognized proprietary, platform-agnostic tokenization technologies for banks and card issuers. The company is a Mastercard Engage Platinum Partner, part of the Visa Token Service Ready Program and an American Express GNS partner for Amex Pay.
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