humm has announced its acquisition of the Australian-based fintech provider BidFin in order to meet the growing needs and preferences of its customers. Following this announcement, BidFin employees are set to be transitioned to the new ownership and to continue the process of operating as a stand-alone business.

In addition, BinFid’s focus will remain on driving and enabling sales for technology suppliers with the overall provisioning of payment solutions. Both companies will continue the process of meeting the needs, preferences, and demands of their customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. .

More information on the announcement According to officials of the BidFin company, the acquisition was due to the overall demand for its solutions escalating to the point where the firm needed to consider a strategic transaction in order to meet the growing demands and needs of its clients. At the same time, the deal represents an important step into the company’s development, as it allows it to onboard more users at scale and in a secure and rapid manner. In addition, it will also give BidFin the possibility to partner with more technology collaborators and suppliers in order to optimise their sales processes with its flexible and secure suite of payment solutions.

By being enabled to operate on humm’s balance sheet, BidFin will have the opportunity to accelerate its development process and improve its suite of solutions and services. Throughout this acquisition, BidFin will not be making any direct changes to its product portfolio and tools. At the same time, neither BidFin nor humm disclosed any financial terms or conditions of the deal.

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