January 28, 2020 / 7:10 AM / 25 days ago

Credit Agricole buys majority stake in financial tech firm Linxo

PARIS, Jan 28 (Reuters) - French bank Credit Agricole said on Tuesday that it had agreed to buy a majority stake in fintech firm Linxo Group, for an undisclosed amount of money.

Linxo was founded in 2010 and the company says it is a French market leader in bank data aggregation and payment initiation.

“The acquisition of this major banking aggregation player in France, a long-time partner of the Crédit Agricole Group, is an important part of our strategic aim of offering customers of the Group’s banks innovative payment services that meet the highest market standards,” said Credit Agricole Payment Services CEO Bertrand Chevallier.

Reporting by Sudip Kar-Gupta, editing by Louise Heavens

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