Svea Ekonomi acquires the Finnish payment company Maksuturva.

Maksuturva, an Espoo, Finland-based company providing online payments services, announced getting into an agreement with Swedish bank Svea Ekonomi for selling the company.

The deal, which has the financial details undisclosed, was made in cash for 90% of the shares of Maksuturva Group Oy and Maksuturva ICT Services Oy (together Maksuturva), while 10% of the shares will continue to be held by Maksuturva’s management. The acquisition is pending approval by the Finnish Financial Supervisory Authority.

Maksuturva, founded in 2016 by its CEO Mikael Smeds, developed payment solutions for web stores functioning both nationally in Finland and internationally.