eMAG has acquired 100% of Orange Money as part of its strategy to expand and diversify financial services through its fintech subsidiary, HeyBlu.
Target Information
eMAG, a leading online retail pioneer in Romania, Hungary, and Bulgaria, has announced its acquisition of Orange Money, acquiring 100% of its shares. This acquisition is part of eMAG's strategic initiative to enhance and diversify its financial services portfolio.
Since its inception in 2001, eMAG has aimed to help customers across the region save time and money with a continually growing range of products available through both its platform and marketplace sellers. Currently, over 2.5 million customers can access various financing options available in My Wallet, which allows for flexible payment timelines such as payment options of 30 days post-purchase or installment plans spanning 4 to 36 months for purchases up to 10,000 lei.
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Industry Overview in Romania
Romania's financial technology sector has experienced significant growth in recent years, marked by an increase in startups offering innovative financial services. This surge has been fueled by the rise of digital banki
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