Omnio has acquired MyBucks, a fintech company that delivers seamless financial services through technology.
MyBucks Europe S.A. is the European operation of MyBucks S.A., a Frankfurt Stock Exchange listed fintech business offering impact loans, secured and unsecured credit, banking solutions as well as insurance products.
The deal underlines Omnio’s ambition to build a community of users who can access its digital banking services as well as drive financial inclusion around the world. Omnio’s community now numbers around seven million people, with around 2.7 million of them using Omnio services to manage their finances and more than 200 banks and non-banks using Omnio’s technology stack for offering digital banking services.
The parties also signed a licensing and distribution agreement, whereby MyBucks S.A. will allow Omnio to use, develop and distribute their proprietary market-leading software. The modules include innovative AI-driven credit scoring algorithm, loan origination and loan management system as well as automated customer service and collection modules.
The acquisition of MyBucks Europe widens the Omnio community further and allows Omnio users to access modern behaviour-based impact lending services.
The acquisition also provides Omnio with a new presence and access to Central and Eastern Europe (CEE). This is through the acquisition of its 100% owned subsidiary, GetBucks Poland, the online lending operations, adding an office and employees in Warsaw (Poland), which is a fundamental step towards achieving its growth ambitions in Europe.
MyBucks Europe and its Polish office are led by Managing Director, Michał Gębała, who will continue to manage the business.
Omnio is owned and financed by AEDC Capital, which is a global private equity investor specialising in disruptive fintech and financial services businesses which are reinventing their sectors by building communities of users who are able to access a range of personalised financial services through mobile technology platforms.
Dr Andreas Tuczka, Managing Director and Co-Founder of AEDC Capital said: “MyBucks is an exciting and strategic investment for Omnio which is disrupting and innovating in its market. It complements and extends our banking and payments ecosystem; gives us renewed presence in Central and Eastern Europe and has huge potential for growth. We are looking forward to working with Michał and the MyBucks team as we plan to drive the company to its next stage of growth.”
Michał Gębała, Managing Director, MyBucks said: “We’re looking forward to being part of Omnio and to working with AEDC to further unlock the untapped potential in financial inclusion area, servicing clients who so far were ignored by traditional financial institutions. We see significant value in being part of Omnio’s portfolio which is an ecosystem of like-minded and ambitious technology companies. We are particularly excited about what this new network can do for our and the group’s existing clients as we broaden and deepen our service offering.”