Millennial and Generation Z-focused financial living app StormPay has been acquired by B2B payment service provider Moneff.
According to a news release released by the companies on Tuesday, October 19, the acquisition would provide Moneff more access to the consumer market and allow StormPay to improve its capabilities and user experience.
Sanjar Mavlyanov, CEO and Founder of Moneff, said in the release that his company is a dual-licensed [eMoney] institution and that “our objective is now to broaden access to StormPay’s services so that even more clients may better their financial management and enhance their wellbeing.”
StormPay co-founder Otabek Nuritdinov will step aside from his role as CEO while keeping his position as head of business development at Moneff. Mavlyanov will become the next CEO of both businesses.
In order to provide millennials and members of Generation Z with better financial management, Nuritdinov reportedly founded StormPay in 2020.
We feel that this company and its fantastic employees will only expand, therefore I can securely and without a doubt hand them on to Sanjar. StormPay’s original, the fundamental idea, will not only continue to exist, but it will also flourish with the help of Moneff as its parent company.
“Tech-driven customers” are those who are intensely linked to digital technologies, what they do with them, and what they anticipate for the future. 13% of Gen Z and 18% of millennials fall into this category.
