Norwegian software company Opera has completed the acquisition of Estonian banking-as-a-service company Pocosys.
Furthermore, it also signed a deal to acquire Pocosys’ sister company Pocopay.
Pocopay offers financial services to European Union and owns a payments institution licence.
The deal to acquire Pocopay is subject to receipt of approval from Estonian Financial Supervisory Authority (FSA).
These acquisitions will make Tallinn, Estonia’s capital on the Baltic Sea, second European hub for Opera’s fintech services after Gothenburg in Sweden.
Opera EVP of Browsers and European fintech Krystian Kolondra said: “The way we use financial services is starting to change rapidly.
“We see a lot of potential for better and easier services. Needless to say we are excited about our future fintech plans associated with Pocosys and our existing brand.”
Opera’s browser in PC and smartphones is used by more than 50 million monthly active users in Europe.
Opera intends to enhance its skill sets by combining its browser and fintech businesses.
Pocosys CEO Oksana Tolmatshova said: “We are very excited to join the Opera family.
“Opera is a leading European consumer technology company, and our solutions will allow Opera to further grow its unique product offering, entering new categories”.
Pocosys founder Indrek Neivelt said: “Estonia is a great place to attract talent for any European fintech efforts.
“The country is among the most digitized countries in the world, and is a thriving center for fintech startups.”