Cobalt has advised Poco Holding on the sale of banking-as-a-service provider PocoSys to the Opera Group. Opera also signed an agreement to acquire PocoSys's sister company, EU-licensed payment institution Pocopay.
According to Cobalt, "PocoSys and Pocopay provide business to business banking-as-a-service solutions to third party Fintechs. The companies have previously engaged in business with companies from Japan, Ghana, and the United Kingdom. The acquisition of the Poco entities marks Tallinn, Estonia becoming Opera’s second European hub for Fintech services following Gothenburg, Sweden. The acquisition of Pocopay needs the further approval of the Estonian Financial Supervision Authority. Until then, Pocopay has entered into an interim commercial relationship with the Opera group."
Cobalt's team consisted of Partner Peeter Kutman and Associate Sven Bottcher.
Cobalt did not reply to our inquiry on the matter.
