Pesa Expands Global Reach with Authoripay Acquisition
Deal News | Jun 19, 2025 | EIN
Pesa, a Toronto-based cross-border fintech platform, has acquired UK-based payment service provider Authoripay. The acquisition will allow Pesa to expand its regulatory reach in the UK and EU, providing access to new financial services licenses and Mastercard's Global Principal Membership. Authoripay, now rebranded as Pesapeer Payments, is expected to bring in $80 million in annualized transaction volume. This strategic acquisition enables Pesa to launch multi-currency debit and prepaid cards, enhancing their current offerings. Pesa, which was founded in 2021 by immigrants Tolu Osho, Yusuf Yakubu, and Adewale Afolabi, has reached $380 million in transaction volume across four continents and achieved profitability within two years. With its newly acquired capabilities, Pesa aims to build a borderless financial platform and offer competitive pricing and innovative products for underserved global citizens and enterprises.
Sectors
- Financial Technology (Fintech)
- Payments and Remittance
Geography
- Canada – The acquiring company, Pesa, is based in Toronto, Ontario, Canada.
- United Kingdom – The acquired company, Authoripay, is based in the UK, and the acquisition provides access to UK financial markets.
- Europe – Pesa intends to expand its services across European markets following its acquisition of Authoripay.
Industry
- Financial Technology (Fintech) – The article discusses a fintech company, Pesa, and its acquisition of Authoripay to expand its digital payment solutions and cross-border financial services.
- Payments and Remittance – Authoripay operates in the payment services sector, and its acquisition by Pesa enhances Pesa’s capabilities in money remittance and electronic money services.
Financials
- 80,000,000 – Annualized transactional volume expected to be contributed by Authoripay to Pesa's platform.
- 380,000,000 – Transaction volume that Pesa reports across four continents since its founding.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pesa | Buyer | Company | A Toronto-based cross-border financial technology platform focusing on remittance and payment services. |
| Authoripay Emoney | Target company | Company | A UK-based electronic money institution providing payment services, now acquired by Pesa. |
| Financial Conduct Authority (FCA) | Regulator | Government | UK financial regulatory body that provides licenses necessary for Authoripay's operations, now transferred to Pesa. |
| Mastercard | Payment Network Partner | Company | A global payment technology company providing Principal Membership for card issuance, which is part of the assets acquired by Pesa. |
| Tolu Osho | CEO and co-founder | Person | One of the founders of Pesa and its current CEO. |
| Yusuf Yakubu | Co-founder | Person | Co-founder of Pesa, involved in the company's strategic development. |
| Adewale Afolabi | Co-founder | Person | Co-founder of Pesa, playing a pivotal role in its growth strategy. |