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Cross-border payments firm Verto buys Locusnine

B2B cross-border payments and foreign exchange (FX) enabler Verto has bought Locusnine, a software studio that offers solutions to cross technological hinderances to customers’ experiences. 

Based in India, Locusnine brings together design thinking with wide technological expertise to offer user-centric products, reported IBS Intelligence.

With this deal, Verto will be able to roll out solutions to the market quicker and speed up its aim of building a simplified cross-border payments ecosystem for firms.

The relationship between the two firms commenced in 2019 when they teamed up for scaling ‘MVP architecture’, reported Crowdfundinsider.

This latest deal comes after Verto raised $10m through Series A funding in September 2021, reported TechCrunch.  

Along with Locusnine, Verto aims to provide modern banking solutions and allow firms across the world to make cross-border and domestic payments with ease and security.

Verto co-founder and CTO Anthony Oduu was quoted by Payment Expert as saying: “Our ability to collectively build top-level products and embrace the most challenging parts of product development and engineering is one of the main reasons this partnership with Locusnine made sense.

“Since we started working with their excellent team in 2019, we have shared the same ethos and product innovation methodologies, and we are now very excited to have them join the Verto family.”

Locusnine co-founder and director Sumit Maingi said: “Verto and Locusnine’s shared vision to build leading products that have a positive impact made coming together an obvious choice and an exciting opportunity for our team.

“We are very much looking forward to joining forces and working toward our common goals of making Verto the go-to cross-border payments enabler across the world.”

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