B2B cross-border payments and foreign exchange enabler Verto acquires Locusnine
- Acquisition
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- Locusnine has joined the Verto family, bringing a dedicated team of engineers and designers to create a global product suite
London, 19 August 2022 – Verto, the leading B2B cross-border payments and foreign exchange (FX) enabler, today announced that it has acquired Locusnine, a software studio that delivers innovative solutions, products and services that help to transcend technological barriers to customers’ experiences.
Locusnine is a leading product innovation studio that combines design thinking with extensive technological expertise to deliver compelling, user-centric products that create a positive impact. With Locusnine’s dedicated team of world-class engineers and designers, Verto will be able to bring solutions to the market faster and accelerate its goal of creating a simplified cross-border payments landscape for businesses
The partnership is indicative of Verto’s significant growth and expansion journey following a $10 million in Series A funding in September 2021. Together with Locusnine, Verto is driven to build the best-in-class cross-border payments solutions and products, deliver innovative modern banking solutions and enable businesses across the world to make cost-effective cross-border and domestic payments quickly and securely.
Commenting on the announcement, Anthony Oduu, Co-Founder and CTO of Verto, said: “Our ability to collectively build top-level products and embrace the most challenging parts of product development and engineering is one of the main reasons this partnership with Locusnine made sense. Since we started working with their excellent team in 2019, we have shared the same ethos and product innovation methodologies, and we are now very excited to have them join the Verto family.”
Sumit Maingi, Co-Founder and Director at Locusnine, added: “Verto and Locusnine’s shared vision to build leading products that have a positive impact made coming together an obvious choice and an exciting opportunity for our team. We are very much looking forward to joining forces and working toward our common goals of making Verto the go-to cross-border payments enabler across the world.”
ENDS
About Verto
Verto is a London-based B2B payments start-up that helps businesses send money to anyone, anywhere. Using a purposefully built tech infrastructure and payment rails, businesses can instantly send and receive money in over 190 countries. Today, Verto helps 7000+ customers, from start-ups and SMEs to large corporations, converting and transferring $1.5 billion every year. Using Verto’s own liquidity and price discovery marketplace solution, new customers can convert between 51 currencies, open accounts or wallets in seconds and make payments on a single platform.
About Locusnine
Locusnine is an innovation studio that creates positive impact and transformation for businesses and ideas. Their team of designers, engineers, thinkers, doers and more bring the creativity and freshness of a studio and the technological expertise of an engineering firm to deliver compelling, user-centric products.
Locusnine believes that well-designed software can transform the lives of its users and help transcend technology barriers to exponentially enhance their experience. Their work improves efficiency, profits, and morale and enables people to find more meaning in their work. They are not just creating software, but enabling their clients to trigger better behaviour patterns in people. Where others see the routine, Locusnine sees scope for revolution.
