Norway-based Neonomics has acquired UK-based Open Banking platform Ordo to strengthen its commercialisation strategy and ability to offer services in the UK.

Fintech Innovation AS, the parent company of Neonomics, has acquired 100% ownership of The Smart Request Company Limited Ltd, which trades as Ordo.

The transaction has been fully approved by both the Financial Conduct Authority in the UK and Norway’s Financial Supervisory Authority. Financial details of the acquisition have not been disclosed.

According to a press statement, Neonomics has been seeking a strategic partner to further accelerate its growth and expand its ability to offer services in the UK and beyond.

Ordo was founded by the former management team behind the UK’s Faster Payments scheme, and delivers a range of payments and data services, including variable recurring payments.

In February 2024, Ordo became an official Crown Commercial Service supplier, when it was accepted onto the Open Banking Dynamic Purchasing System.

Christoffer Andvig, founder and chief executive officer of Neonomics, said: “The team at Ordo represents some of the most experienced payments experts in the UK, having a leading voice across many of the most important forums that span the UK and EU in shaping how Open Banking will evolve.

“This acquisition strengthens our commercialization strategy and time to market, while expanding our product offering.”

Fliss Berridge co-founder and managing director of Ordo, added: “We are proud to join forces with one of the most well-positioned independent Open Banking providers in Europe, to jointly scale our offering to both existing and new customers across the UK and Europe.

“The two teams bring a wealth of experience in developing tailored solutions in a complex and highly-regulated environment at what we believe will be among the industry’s most competitive commercial terms.”