A pair of Polish fintechs – Braintri and iCompass – have announced a merger plan as they seek to grow their businesses and expand internationally, reports David Penn at Finovate.
Braintri COO Wojciech Zatorski highlighted the opportunity for growth, and pointed specifically to the potential in markets in the EU, the Middle East, Asia, and the US. “The partnership is a step forward in Braintri’s strategy to enter global markets,” he says.
Both companies will operate under their existing brands until the merger is completed, after which there will be a rebranding.
Providing mobile banking apps for some of the largest banks in Poland, Braintri has partnered with banking giant PKO BP, as well as mBank.
The company also worked to help establish Poland’s non-card payment standard, BLIK, currently used by 94% of the country’s population. Braintri is also the developer of Jiffee, a token-based, Bluetooth-powered, mobile payment technology.
Braintri says it will focus on three main product lines post-merger: mobile applications, big data solutions, and payments. The company also pledges to “further develop its insurtech competence”.
Braintri’s partner, iCompass, is a software provider for European banks and payment companies like Mastercard Payment Transaction Services. The firm is a technology provider for Poland’s first mPOS platform, and developed the universal payment gateway, Octopus Payment Hub.