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Opera to Acquire Challenger Bank

Opera to Acquire Challenger Bank

Every company is a fintech company. Or so said Plaid CEO and Cofounder Zac Perret earlier this year. Today’s news that web browser Opera plans to acquire challenger bank Fjord Bank certainly affirms Perret’s statement.

Terms of the purchase, which is currently subject to regulatory approvals, were not disclosed.

So what will a web browser do with a bank? According to the press release, Opera will use Fjord Bank to “further accelerate its fintech operations in Europe by launching new, disruptive services aimed at improving consumers’ personal finances.”

“Looking at the fintech space in Europe,” said Opera EVP Krystian Kolondra, “we believe it needs more and bigger challengers who should provide people with smarter and empowering solutions for their personal finances.”

Opera, which counts 50 million active browser users, has already made inroads into the fintech space. Earlier this year the Norway-based company acquired banking-as-a-service provider PocoSys. As a result of the move, Opera built on Pocosys’ digital wallet and payment technology and is currently testing a new version of the Pocopay card and app.

“With the support of Opera, we are also excited to launch our first banking services in Lithuania this summer,” said Fjord Bank CEO Veiko Kandla.