Since its establishment in 1998, XMDS has been at the forefront of developing customized software solutions under the name Ximedes, with a primary focus on Open Banking and Open Public Transport systems. In the past few years, XMDS has done a series of strategic acquisitions of software companies to become a top European fintech leader. With its fintech proposition including the Ginger white label ecommerce payment gateway, the Vayapay EMV gateway and its closed loop payment solution Pecunda, XMDS helps banks and corporates build new services, leveraging the possibilities of fintech-solutions.

“KUARIO’s Cloud-based Platform makes it the ideal crossroad between Cloud Service Providers and Financial Institutions”

KUARIO fits right into this strategy. The cloud based KUARIO platform supports app-based account-, identity-based payment transactions including device management and monitoring & reporting. KUARIO helps clients keep all transactions under one roof, simplifying financial management. It integrates with everything and everyone with no locally installed software required. Trusted by tier-1 companies, KUARIO has clients like Ricoh, HP, Epson, Konica Minolta, Hochschule Esslingen, Swiss Post, Wageningen University and ROC Nijmegen.

“With the KUARIO acquisition, XMDS combines its payment product offerings to provide end-to-end solutions”

This acquisition strengthens XMDS’ ability to deliver end-to-end solutions to the market by combining a SaaS-based payment solution with its existing software development capabilities and Payment product offerings. For Pecunda customers, for example, it offers a great migration scenario to open loop payments. The deal comes as digital payments transaction volumes continue their robust growth following the trend of people using self-service kiosks, placing more pressure on payment companies to deliver a better customer experience through integrated payment solutions.

XMDS founder and CEO, René Hodde, stated:

“KUARIO’s commitment to technology, simplicity and transparency perfectly aligns with our own values. The KUARIO app is user-friendly and a robust payment interface. I am looking forward to helping our existing and future customers by offering license-based payment services in the most efficient and fastest way possible.”

KUARIO’s CEO, Ritske Clewits, commented:

“We’re proud that KUARIO has grown into a trusted partner for major clients. With growing digital payments volumes following the trend of increasing use of self-service kiosks, we are making it our priority to offer a complete mobile payment solution. Combining forces with XMDS payment capabilities creates a strong fintech, ready for its next phase: the rollout through Europe.”

XMDS’ acquisition of KUARIO fits into a series of strategic investments to become a top European fintech player. Other recent acquisitions include the recently founded Vayapay, Ginger and Pecunda, all innovative firms accelerating fintech and faretech product propositions.

Parties are not disclosing the terms of the acquisition.

XMDS is actively supported by its shareholder Cape Investment Partners (CIP) - an entrepreneurial investment platform based in Amsterdam that supports ambitious management teams to realize growth initiatives in a sustainable, balanced and long-term manner. CIP continues to bring resources to support the delivery of XMDS’ ambitious plans.