UK challenger bank Revolut has announced the acquisition of physical point-of-sale business Nobly POS at an undisclosed fee.
In a press statement, Revolut noted that the Nobly business, which provides technology for the hospitality industry, is currently being integrated into the fintech’s payment hardware.
With the integration, the platform will enable both online and offline payment processing. The acquisition aims to allow Revolut Business hospitality customers to open a digital account, issue cards, manage and sell their products, and accept payments from one unified platform.
According to Revolut CEO Nik Storonsky, the ability to manage payments from a single place was among the drivers for the acquisition.
“The Nobly team has built a great product and expertise which will further advance our mission to offer a one-stop-shop solution to enable merchants of every kind to manage their finances and run their businesses from a single platform,” said Storonsky.
Currently, Revolut has not highlighted the markets that will utilize the feature. However, the company aims to launch the product across its international destinations in the coming months. It is worth noting that Nobly currently serves clients in the UK, USA, and Australia.
Nobly’s ePOS system, founded in 2013, allows hospitality businesses to manage their operations with its back-office app. The platform offers order and inventory management, kitchen displays, loyalty, and an online ordering app.
Revolut acquires Wanted
The acquisition marks Revolut’s latest spree to expand its business amid a growing global footprint. In late October, Revolut also announced the team’s acquisition from Wanted, a New York-based talent sourcing marketplace.
With the deal, Wanted founders including Balazs Alexa, Guillaume Breux, Mario Eguiluz, Jean Meyer, and Eva Peris joined Revolut.
The fintech stated that the acquisition aims to help the company accelerate its growth goals with the rollout of new products and services.
One of the platform’s notable services that are likely to hit the market is a cryptocurrency exchange. As we previously reported, Revolut was scaling up its involvements in digital currencies by hunting for a lead tech who will be in charge of developing a cryptocurrency exchange.