AIB has invested approximately $35m in TransferMate as part of a strategic partnership, taking a stake of at least 10% in the process.
Financial services firm AIB has paid €30m ($35.2m) for a minority stake in Ireland-based business to business (B2B) payment software providerTransferMate, the Irish Independent reported on Sunday.
The deal, which is subject to regulatory approval, values TransferMate at up to €300m, a source told the newspaper. The two companies have also formed a strategic partnership to provide Ireland-based businesses access to TransferMate’s system.
Founded in 2010 as a subsidiary of finance and travel services firm The Taxback Group, TransferMate has…
