Thursday 7th January, 2021
Cashplus a UK-based provider of banking and credit services for small businesses and consumers, has signed a definitive agreement to acquire Manchester-based firm icount.
The deal which expected to close in early 2021 will see five thousand accounts and £2 million in monthly transactions migrated from icount to Cashplus.
Cashplus CEO Rich Wagner says: “2021 is set to be a very exciting year for Cashplus. Our anticipated upcoming authorisation as a bank will allow us to better serve the UK small businesses and consumers that need our banking and credit services, and I’m pleased that we’ll be starting the year with this acquisition as a sign of our confidence.”
The deal comes as Cashplus reaches the final stages of its application to become a full UK bank.
The financial terms of the transaction were not disclosed.