Allied Irish Banks (AIB) has invested €30m ($35m) in cross-border payments platform TransferMate in a deal that gives the latter firm an estimated valuation of between €250m and €300 million. The two firms will also form a strategic partnership to offer Irish businesses international payments and receivables capabilities ahead of Brexit. Martin Good/Shutterstock TransferMate CEO Terry Clune said the funds would allow the company to expand its head office and technology functions in Ireland, as well as support its commercial teams around the world.
Allied Irish Banks (AIB) has invested €30m ($35m) in cross-border payments platform TransferMate in a deal that gives the latter firm an estimated valuation of between €250m and €300 million. The two firms will also form a strategic partnership to offer Irish businesses international payments and receivables capabilities ahead of Brexit. TransferMate CEO Terry Clune said the funds would allow the company to expand its head office and technology functions in Ireland, as well as support its commercial teams around the world.