Fast Finance 24 Holding AG announces the successful acquisition of its two wholly-owned subsidiaries, FF24 Merchant Services GmbH (ff24payments.com) and FF24 Ventures GmbH (ff24pay.com), by Standard Vape Corporation.
Berlin, 12.05.2020 – Fast Finance 24 Holding AG announces the successful acquisition of FF24 Merchant Services GmbH and FF24 Ventures GmbH by Standard Vape Corporation which has been completed today. Fast Finance 24 Holding AG has now become the new majority shareholder with 90% of the voting rights. A name change of the American company will take place shortly in order to better reflect the new business orientation in the FinTech sector. Mr. John Fruhmann resigns from the BOARD of SVAP and is replaced by Mr. Andreas Garke, CEO, as the new Chairman of the Board. Ms. Elizabeth Kellogg Ehrlich and Mr. Daniel Fisher will be replaced by Mr. Armin Dartsch, Chairman of the Supervisory Board of Fast Finance 24 Holding AG, as the new Director and Company Secretary. Mr. Sayed Iqbal is appointed AS CFO.
The new business areas
ff24payments.com is a modern, scalable, real-time payment platform that grows with your business, offering innovative solutions, whether for one-time purchases or recurring bookings, and is aimed at large and small online merchants, as well as operators of the growing number of websites that derive their revenue from “freemium” models. Mastercard, VISA, SEPA, Sofortüberweisung and PayPal are currently supported. For 2021, initially, marketing and integration is only planned with German online shops. A launch in other European countries is planned for Q1/2022. ff24.payments is aiming to expand into the USA and Asia.
ff24pay.com offers banking- and instant transfer solutions for a wide range of the international, major currencies. The initial target group are private individuals and SMEs using either Euro (EUR; €) or other European currencies as their main currency. Currently, ff24pay.com offers European customers the following services, IBAN account, debit card, multi-currency processing, SEPA and SWIFT transfers, as well as recurring payments. In the target regions of ff24pay.com, easily accessible apps for Android and iPhone can be downloaded from the official app stores; Desktop and laptop versions of the apps are also available. By the end of 2022 ff24pay is aiming to achieve at least 10,000 customers in Europe and a successful establishment of ff24pay.com as a modern and secure banking solution. An offer for the US market is planned. Desktop and laptop versions of the apps that could better meet the needs of SMB business users are also downloadable.
About Fast Finance 24 Holding AG
Fast Finance 24 Holding AG is an international investment company based in Berlin, which primarily invests in European Internet companies. Typically, FF24 focuses on the segments of finance, marketing, communication and IT.
Contact: Fast Finance 24 Holding AG Uhlandstr. 165, 10719 Berlin, T. +49 (0)30 – 7262 1234-4, F. +49 (0)30 – 7262 1234-1, E-Mail: [email protected] www.fastfinance24.com/de/