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FT Partners Advises ING on its €21,000,000 Investment in TransferMate

Overview of Transaction

  • On July 27, 2018, ING announced that it has reached an agreement to invest €21,000,000 in TransferMate
  • TransferMate and ING have also agreed to a strategic partnership across 18 countries in mainland Europe
  • Headquartered in Amsterdam, ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank
  • The purpose of ING Bank is to empower people to stay a step ahead in life and in business
  • ING Bank’s more than 51,000 employees offer retail and wholesale banking services to customers in over 40 countries
  • Founded in 2010 in Ireland, TransferMate is a cross-border payments platform that harnesses its technology and global banking infrastructure to serve businesses worldwide

Significance of Transaction

  • The transaction and partnership will allow ING to better serve its customers by harnessing TransferMate’s cross-border API technology and payments licenses to reduce costs and improve cash flow

FT Partners' Role

  • FT Partners served as strategic and financial advisor to ING on this transaction
  • This transaction further supports FT Partners’ continued success in the Payments space and highlights the Firm’s versatility in generating attractive outcomes on both the sell-side and the buy-side
  • FT Partners leveraged its deep, global industry knowledge and transaction expertise to help achieve a favorable transaction outcome