Dutch FinTech POM strengthens European position through acquisition of Denmark’s FarPay

Dutch FinTech company POM has acquired Denmark's FarPay, aiming to establish a new European standard for automating invoicing, payments, and accounts receivable management. This strategic move, supported by investment from Vortex Capital Partner, highlights a consolidation trend within the European FinTech sector. The acquisition allows POM to combine its payment solutions with FarPay's invoicing automation. The acquisition brings together POM's expertise in payment solutions and receivables management with FarPay's strength in end-to-end invoicing automation. This union is poised to create a leading European platform, delivering an improved user experience for both businesses and their customers. The companies' combined strengths aim to streamline financial processes. This acquisition arrives amid a period of significant funding activity in European FinTech. Recent funding rounds include Donnersteg.ai’s €4.3 million raise, Mimo securing €7.7 million, Sibill closing a €12 million Series A, Two raising €13 million, and Factris securing a €100 million facility. By integrating, POM and FarPay are responding to growing market demand for scalable and user-friendly platforms. The acquisition of FarPay by POM demonstrates a shift towards consolidation and the creation of more integrated platforms in the European FinTech market. It also highlights the growing importance of scale, technology, and user experience within the accounts receivable automation sector. The move is expected to expand the reach and capabilities of both companies.