Compass, the Mediobanca Group’s consumer credit arm, has completed two acquisitions in the Buy Now Pay Later (BNPL) segment
Mediobanca Enhances BNPL Operations with New Acquisitions. Source: shutterstock.com
The consumer credit arm of Italian investment bank Mediobanca has acquired two fintechs operating in BNPL sector to boost its operations. Namely, Mediobanca’s Compass unit made a deal with Italian fintech Soisy and bought a 19.5% stake in Swiss HeidiPay.
While Soisy specialises in selected loans for e-commerce platforms, HeidiPay builds digital platforms to support e-commerce BNPL, developing agreements with distributors and luxury brands.
The newly-acquired companies will supercharge Compass’s BNPL offering, PagoLight, with both product and customer base. Thus, Soisy works with 800 merchants, facilitating EUR50 million in loans a year.?
PagoLight launched last year for in-store purchases. The offering has recently expanded to e-commerce platforms. Thanks to a technological platform specifically created and made available by Compass, customers get access to deterred payments immediately at the checkout. The solution is a combination of the innovative SmartPOS technology with Compass experience in credit evaluation.
CEO, Compass
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Nina Bobro
Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.
