Cashplus to acquire icount with banking application pending
Cashplus, a U.K.-based provider of banking and credit services for small businesses and consumers, has signed a definitive agreement to acquire the current account portfolio of icount for an undisclosed amount, according to a press release. The deal is expected to be the first U.K. fintech acquisition of the new year.
The acquisition will send five thousand accounts and $2.7 million in monthly transactions from icount to Cashplus.
The consolidation deal comes with Cashplus in the final stages of its application to become a full U K. bank.