ZipTel will be rebranded as Douugh following its acquisition of the neobank, which counts Choice Financial and Monex among its investors.
Telecommunications firm ZipTel has agreed to acquire Douugh, an Australia-based digital bank backed by community bank Choice Financial and financial exchange service Monex, according to a stock exchange filing.
The deal is a reverse merger that will involve ZipTel rebranding to Douugh and taking on its business. ZipTel is listed on the Australian Securities Exchange and the merged company plans to reapply for its position once the transaction is complete.
Founded in 2016, Douugh operates a neobank that makes use…
