The Estonian mobile payment platform Fortumo was sold for 45 million dollars

Updated: Jun 21, 2020

Mobile payment solution provider Fortumo has acquired a full stake in Boku, which is listed on the London Stock Exchange. The amount of the transaction is $45 million. Fortumo will continue to operate as an independent entity in the Boku Group with its current management and team.

The Fortumo platform is used by the world's leading digital services companies, including Google, Amazon, Epic Games, Tencent, and Spotify, and connects the platform to more than 280 mobile operators in 80 countries.

"The deal is primarily a recognition of the long-term Fortumo team that has built a cutting-edge and business-critical technology platform for the world's leading companies over the past 13 years. With the same team, we will continue to operate as an independent unit in the Boku Group, focusing on developing new products and business lines. The new opportunities created by joining also mean the need to significantly increase the team, "said Martin Koppel, CEO and co-founder of Fortumo.

"Boku will become a strong strategic owner of Fortumo, who knows the ins and outs of the field of mobile payments and with whom we can cooperate in the field of both technology and business development," added Koppel.

“Over the years, we have been constantly impressed by the actions of Fortumo's management and team. Boku's and Fortumo's s