Cambridge-based FinTech firm CashFlows buys iCheque Network Ltd
Cambridge-based FinTech firm CashFlows has acquired online payments company iCheque Network Ltd.
Founded in 2003, and formerly known as Voice Commerce Group, CashFlows’ proprietary technology helps 1,500 businesses to accept online card payments.
Neil Graham, CEO of CashFlows, commented on the acquisition: “We’re delighted to have agreed this transaction. We are particularly excited by the opportunities it offers both CashFlows and iCheque as we continue on our mission to maximise payments success for our customers, and also as we strive to innovate our technology and solutions to challenge established players in the financial services market.”
iCheque, also based in Cambridge, provides an online virtual payment solution via its Payr brand, which seeks to increase card acceptance rates across its customers whilst providing more security, fraud prevention, and privacy.
Caerwyn Prothero, co-founder and CFO of iCheque, said: “We are excited about joining CashFlows. Bringing our offerings together will help us to accelerate growth, provide greater levels of service and focus in the electronic payment sector and to continue delivering innovative new products and services to our customers.”
The terms of the acquisition were undisclosed.