Redpin Launches Following £140m Backing From Blackstone to Revolutionise Payments and Embedded Software Across the International Property Market
- Redpin launches amid new strategy to become market leader in embedded software and payments in the $4.5Trn a year residential property market
- Group CEO Arnaud Loiseau appointed from WorldRemit (Zepz) and Candy Crush creator King
- Existing consumer-facing brands Currencies Direct and TorFX to continue operations under new Redpin group umbrella
LONDON–(BUSINESS WIRE)–Redpin Holdings Limited – owner of leading global digital international payment services to private clients and SMEs Currencies Direct and TorFX – launches as it implements a new strategy to become the market leader in embedded software and payments for residential property.
The new strategy follows an earlier £140 million strategic investment from Blackstone Tactical Opportunities (“Blackstone”). Redpin plans to continue investing in its existing international payment network and services as well as grow through select acquisitions of property technology companies globally.
Arnaud Loiseau, formerly international CEO of WorldRemit (now Zepz) and Vice President at King, has been appointed as CEO of the new group to drive the new strategy, talent acquisition and M&A transactions.
Arnaud Loiseau, CEO of Redpin: “The residential property sector is home to life’s most important payments but also the most frighteningly complex and fragmented ecosystem in the world. Change is long overdue, and Redpin plans to connect the dots for consumers and businesses across the ecosystem – from legal service firms, title companies and estate agents to property managers – by providing a seamless SAAS* and international payment experience”.
“I am excited to scale a business that can make a real change in a huge market ripe for disruption and partner with world class private equity investors and the brightest minds and companies across fintech and proptech.”
Qasim Abbas, Senior Managing Director at Blackstone: “Today’s announcement marks an exciting next chapter for Redpin as it sets out to transform international payments and vertical software for the residential property market, an industry that has historically been underserved. With our backing, alongside that of Palamon and Corsair, we look forward to seeing what Arnaud and the team will achieve in attracting some of the world’s top software and technology talent, and proptech companies seeking to bring innovation to the industry.”
Ali Rahmatollahi, Partner at Palamon, and Raja Hadji-Touma, Partner at Corsair: ”We are delighted to have Blackstone alongside us at this pivotal moment in the company’s history as Arnaud and team leverage Redpin’s incredible market position and growth profile built over the past 8 years to transform the residential property sector. We are confident that Redpin is well-positioned to become a category-defining company and are pleased to be supporting the team in reaching its global ambitions.”
A scale-up with significant backing and established consumer-facing brands garnering industry-leading Trustpilot scores, Redpin operates a global payment network that securely serves customers and SMEs in over 235 territories across over 1,800 currency pairs, transacting more than $12.6 billion in the last financial year.
For further information, visit: https://www.redpincompany.com/
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