US-based banking and paytech giant FIS is reportedly acquiring London-based fintech Demica for approximately $300 million, expanding its portfolio with a leading supply chain finance platform that supports automated payments across 30 countries. Demica, managing $40 billion in assets, collaborates with major financial institutions like Lloyds Banking Group, Mastercard, and HSBC and recently partnered with Crédit Agricole CIB for a new APAC platform. The deal reflects FIS’s strategy to strengthen its position in fintech by acquiring innovative firms following its recent acquisition of Bond, a Banking-as-a-Service fintech.
FIS Reportedly Set To Acquire UK-Based Fintech Demica For Around $300M
