Norwegian Browser Opera Ventures Into fintech With Acquisition Of Fjord Bank
Summary
Opera Software, the Norwegian (but now Chinese-owned) company that’s been in the business of making browsers and applications since 1994, announced on Thursday, July 9, that it will soon be launching its first consumer fintech offering for the European market. To enable that, the company has acquired the fully-digital neobank Fjord Bank, a Lithuania-based startup that was founded by a group of Norwegian and Swedish investors only just over 3 years ago. The deal to purchase Fjord Bank, which is subject to regulatory approval, will enable Opera to “further accelerate its fintech operations in Europe by launching new, disruptive services aimed at improving consumers’ personal finances,” the company said in a statement. Earlier this year, the Oslo-headquartered browser maker acquired the Estonian startup PocoSys, which develops banking-as-a-service software. Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.