Redpin launches to simplify payments across global property market
By Gloria Methri
Redpin Holdings Limited, the owner of global digital international payment services to private clients and SMEs Currencies Direct and TorFX has launched in the UK, with a mission to become the market leader in embedded software and payments for residential property.
The launch follows a strategic investment of £140 million from Blackstone Tactical Opportunities. 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 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.
Speaking on the launch, Loiseau said, “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 added, “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.”
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.
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