FTPA advised Predictus on the acquisition of CrowdForce. This strategic acquisition aims at extending the range of digital financial services offered by FairMoney, a subsidiary of Predictus in Nigeria, to better support merchants and small businesses.
FairMoney, a fast-developing digital banking platform, has grown apace as a credit-led neobank, providing collateral-free loans to individuals and small businesses in Nigeria. With this acquisition, FairMoney plans to expand its product and service offerings to meet the specific needs of merchants, including designing specialized credit products for different types of businesses.
PayForce, a merchant payment services company, is known for its agency-free banking model that provides Nigeria with last-mile financial services through a network of human ATMs. As a sub-brand of CrowdForce, backed by Y Combinator, PayForce has developed expertise in small business banking, offering point-of-sale terminals, cash-in, cash-out, transfer and bill payment services.
This acquisition will enable FairMoney to enhance its offering by introducing products specifically designed for different types of merchants.
FTPA advised Predictus with a team comprising Charles-Philippe Letellier, partner, and Noëmie Rivas and Lisa Demri, associates (Corporate M&A).