UK-based fintech platform Monese has acquired Trezeo, a Dublin and London-based specialist financial services firm for the gig economy.
Trezeo is Monese’s first acquisition and is part of its efforts to enter the credit and lending space for the gig workers and those with untraditional work and life.
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The acquired firm offers subscription-based income and a digital financial safety net to independent and self-employed customers in the UK.
Monese noted that the acquisition significantly enhances its offerings for its existing customers.
Founded in 2016, Trezeo is an FCA authorized lender and backed by the likes of Barclays, Ireland’s national start-up accelerator program, NDRC and Nationwide.
Post-merger, the firms plan to build a team in Ireland and lunch credit and lending in the UK.
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By GlobalDataMonese founder and CEO Norris Koppel said: “Many of Trezeo’s target customers are our customers: gig workers, side-hustlers, go-getters and all those working towards achieving their dreams. We know these workers are looking for more of a safety net, particularly when it comes to accessing credit.
“Modern, digital financial services have a great opportunity to serve this ever-growing workforce and help them juggle the pressures and priorities of post-pandemic life”.
Trezeo CEO and founder Garrett Cassidy said: “We started Trezeo five years ago with the ambition to serve the independent and self-employed workers who power towns and cities. We have since developed a totally unique financial services platform for this rapidly growing workforce.
“This acquisition allows us to continue to deliver our mission, under the Monese brand, to a much bigger audience across Europe. We are two companies that are very closely aligned in mission and purpose. We’re very excited about what we can achieve together.”
Monese did not disclose the financial value of the deal.
