Soldo gets sold on Irish e-money licence
Soldo, the London-based fintech, has received an e-money licence from the Irish central bank, in preparation for Brexit.
The licence enables Soldo to offer payment and spend management services to businesses without obstacles in Ireland, across the European Union under passporting rights.
“We’ve been working on the application for 18 months so that whatever route the UK chooses to take in its relationship with the EU, both we as a business and our customers from the EU are protected,” says Carlo Gualandri, co-founder and CEO of Soldo.
Soldo is the third company ever to be granted an e-money licence from the Irish central bank, following in the footsteps of Facebook in 2016.
The company will migrate over half of its business regardless of the resolution of Brexit talks, which comes from the EU, from its UK regulated e-money institution to Ireland.
Soldo has raised over €28 million since its launch in 2016 from Accel, InReach Ventures and Connect Ventures.