iBanFirst acquires Dutch exchange firm NBWM
Multi-currency exchange platform iBanFirst has announced the acquisition of start-up Nederlandsche Betaal & Wisselmaatschappij (NBWM).
Execs at both firms had previously worked together
iBanFirst is instigating an international expansion plan following a $17 million venture round in November 2018.
NBWM, a foreign exchange firm based in the Netherlands which claims more than 1,000 clients, will deploy iBanFirst’s online platform.
Both companies will operate under the iBanFirst brand and iBanFirst will use NBWM’s Amsterdam office until mid-2020. NBWM clients will receive the “same quality of service” but will now be able to take advantage of nominative IBANs, hedging solutions a “user-friendly interface”.
“We were the first disruptors in the Dutch market, like iBanFirst was in France and Belgium,” says PJ Datema, founder of NBWM.
“Together with iBanFirst we are looking forward to taking the whole organisation to the next level with a state-of-the-art technology platform and a service-oriented sales force. It is a big step forward into the future.”
Pierre-Antoine Dusoulier, CEO and founder of iBanFirst, adds: “I have known PJ Datema and Peter Comstock for a long time. We have worked together at Saxo Bank and they started focusing on businesses’ international payment issues at the same time as us. I was very impressed with what they have accomplished in the Netherlands. NBWM counts, in particular, highly skilled technical teams who have met the needs of very specialised clients.”
