Alisa Bank to acquire PURO Finance.

Alisa Bank, a Finnish bank that helps both personal and business customers to manage their day to day finances, agreed to acquire PURO Finance, a fintech company specialized in invoice financing, with a business model based on cutting-edge technology and services closely integrated with the systems of financial administration service providers and other partners. Financial terms were not disclosed. “The combination with PURO Finance supports Alisa Bank’s focus on digital banking and finance services for SMEs. SMEs find the banking services provided by traditional banks as rigid and, especially, the obtaining of financing as difficult. There is room in the market for a flexible, customer-oriented and digital bank focused on serving SMEs. The combination will generate significant short and medium-term synergies improving especially the profitability, and growth of Alisa Bank. The transaction will significantly increase our customer potential and supports our strategy to provide integrated banking services in the channels of financial administration providers and other partners. In addition, the transaction strengthens Alisa Bank’s capital structure and efficient allocation of capital and supports the development of shareholder value,” Juha Saari, Alisa Bank Interim CEO.