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Berkeley Payment buys Toronto-based FinTech startup Pungle

PungleGlobal payments solution provider Berkeley Payment Solutions has acquired FinTech start-up Pungle, a payments platform that enables frictionless, real-time transfers. The companies did not disclose the value and terms of the transaction.

“This acquisition positions Berkeley to be one of the most innovative, fastest-growing FinTech companies globally,” said Jonathon Hamburg, CEO and Founder of Berkeley.

“We are thrilled to join forces and welcome the Pungle team to our fold, as this will allow us to continue to innovate and build impactful payment technology platforms,” Hamburg said.

Pungle is a Toronto-based payments platform that enables payments that are fast, integrated and easy-to-use. With Pungle, businesses and consumers can push and pull funds in real-time to and from a bank account, a prepaid card and a credit card. Berkeley’s clients will now have the flexibility of choice in how they pay and are paid, the company said.

“What attracted Berkeley executives to Pungle was Pungle’s industry-leading technology platform, and its robust innovation and development,” said Lawrence Tepperman, President of Berkeley. “Berkeley will be able to offer more than 800,000 current users access to world-class, scalable and reliable digital payment solutions.”

Post the acquisition, the founders of Pungle, Paul Birkness and Braulio Lam, will become members of Berkeley’s executive team. Birkness will assume the role of Chief Product Officer (CPO) and Lam will serve as the company’s Chief Technology Officer (CTO), the statement added.

“Our mission has been to remove friction from payments,” said Pungle’s CEO, Paul Birkness. “By joining forces with Berkeley, it allows us to provide our customers with a more robust feature set, broader capabilities and global reach.”

Toronto-based financial services company Berkeley, offers its own payment solutions for businesses, helping them simplify outbound payments. Berkeley provides services to corporations, governments and non-governmental organizations (NGO) in the Americas, Europe and Asia.

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