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Luminor buys Estonian e-commerce firm Maksekeskus / Article

“The acquisition will strengthen Luminor’s presence within the fast-growing e-commerce funds market,” the financial institution stated.

 The buy of Maksekeskus by Luminor from Omniva, Inbank, and Olsson & Nielsen Nordic, first introduced on 1 February, was accredited by the Estonian Competition Authority and the Estonian Financial Supervision Authority.

MKK offers e-merchants and their prospects with safe fee options and e-commerce-related companies in Estonia, Latvia, Lithuania and Finland. The firm has grown considerably lately and now serves greater than 3,100 energetic retailers within the Baltics.

MKK was based in 2012 in Estonia the place it’s the market chief in e-commerce fee companies. The acquisition by Luminor is meant to speed up the enlargement of MKK exterior of Estonia, particularly Latvia and Lithuania.

“Luminor’s analysis exhibits that many SMEs within the Baltics are but to learn from shifting their companies on-line. Our pan-Baltic attain will assist to speed up MKK’s enlargement into Latvia and Lithuania, and the acquisition will strengthen our SME footprint in Estonia,” stated Ilze Zoltnere, Head of Luminor Corporate Department in Latvia.

Luminor is the third-largest supplier of economic companies within the area.

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