Millennial and Generation Z-focused financial living app StormPay has been acquired by B2B payment service provider Moneff.
According to a news release released by the companies on Tuesday, October 19, the acquisition would provide Moneff more access to the consumer market and allow StormPay to improve its capabilities and user experience.
Sanjar Mavlyanov, CEO and Founder of Moneff, said in the release that his company is a dual-licensed [eMoney] institution and that “our objective is now to broaden access to StormPay’s services so that even more clients may better their financial management and enhance their wellbeing.”
In order to provide millennials and members of Generation Z with better financial management, Nuritdinov reportedly founded StormPay in 2020.
“StormPay’s original, the fundamental idea will not only continue to exist, but it will also expand with the help of Moneff as its parent company,” claims Nuritdinov. I can confidently and safely pass them over to Sanjar since I think this company and its fantastic personnel will continue to develop.
According to the press release, Moneff, a business founded in 2016 that changed its name from “Safenetpay” to “Moneff” in September, provides free access to multi-currency business accounts, transfers with competitive foreign exchange (FX) rates, card issuing, and online payment processing to small- to medium-sized businesses (SMBs) and sole proprietors.
“Tech-driven customers” are those who are intensely linked to digital technologies, what they do with them, and what they anticipate for the future. 13% of Gen Z and 18% of millennials fall into this category.
