Shift4, a provider of integrated payment and technology solutions, this week announced it will acquire both Finaro, a cross-border e-commerce payments provider with a large European presence, and The Giving Block, which specializes in cryptocurrency fundraising for nonprofits. These acquisitions position the company to pursue a multi-trillion-dollar addressable market across the world, including accelerating growth in e-commerce, gaming, stadiums, restaurants, hospitality, specialty retail, charitable giving, and a new capability with cryptocurrency enablement.
“These deals clearly show our ability to support existing transformational and global customers like SpaceX Starlink & St. Jude Children’s Research Hospital and provide a real right-to-win additional customers across the nonprofit vertical. It also represents an exciting and responsible step towards further embracing cryptocurrencies and blockchain technology,” said Shift4 CEO Jared Isaacman.
Finaro will provide the global infrastructure and technology support to deliver a unified commerce platform for Shift4. Shift4 will be able to expand the company’s current services around the world, including its SkyTab POS solution, Shift4Shop eCommerce platform, and VenueNext stadium offering. The company also has more than 425 software integrations and over 200,000 merchant customers, many of which have a multinational presence and provide immediate international opportunities that can now be unlocked as a result of this acquisition.
The Giving Block operates the leading crypto donation marketplace connecting cryptocurrency donors with more than 1,300 nonprofit organizations. It allows nonprofits to accept cryptocurrency donations, including Bitcoin and Ethereum.
The company said it will invest further in The Giving Block while also pursuing a $45-plus billion embedded cross-sell opportunity by bundling crypto donation capabilities with traditional card acceptance. This represents a sliver of the $470+ billion nonprofit addressable market that Shift4 believes it will uniquely be able to pursue as a result of this acquisition. This acquisition also brings a team of cryptocurrency and blockchain personnel who will establish a Crypto Innovation Center at Shift4 and integrate crypto acceptance and settlement capabilities across Shift4’s current offerings in a wide range of verticals.
“Cryptocurrency is quickly moving beyond early adoption and becoming increasingly mainstream as more people want to invest, transact and donate in crypto,” stated Isaacman. “We intend to be at the forefront of this movement and leverage The Giving Block technology across the entire Shift4 enterprise.”
These two acquisitions are expected to contribute more than $15 billion of end-to-end payment volume and $35 million of adjusted EBITDA in 2023, the company said in a statement.
