Ellex Klavins has advised GoCardless on its acquisition of Nordigen. Sorainen advised Nordigen.
GoCardless operates in direct bank payments. Nordigen is a Latvian open banking data provider.
According to Ellex, "GoCardless will incorporate Nordigen’s next-generation open banking connectivity – offering the widest coverage in Europe, connecting to more than 2,300 banks in 31 countries – into its account-to-account network."
"The acquisition means the [company] will provide free open banking connectivity at scale, opening up to everyone self-serve access to account information services. In addition, its suite of premium data products will help to improve outcomes across a range of use cases, from credit assessments to customer engagement," Sorainen informed.
The Ellex team included Senior Partner Raimonds Slaidins, Senior Associates Zane Bule-Mitka and Anna Misneva, Associates Eduards Dzintars, Mikijs Zīmecs, and Kristers Losans, and Junior Associate Gabriela Fomina.
Sorainen's team was led by Partner Eva Berlaus and Counsel Renate Purvinska.