Payments Firm Shift4 to Acquire Finaro, The Giving Block

Payments technology company Shift4 announced Tuesday (March 1) it is acquiring two other firms: Finaro, a cross-border eCommerce payments provider, and The Giving Block, which focuses on cryptocurrency fundraising for nonprofits.

The Allentown, Pennsylvania-based firm announced the acquisitions in a news release, saying it would help Shift4 pursue growth in a number of markets, including eCommerce, gaming, stadiums, restaurants, specialty retail, charitable giving and a cryptocurrency enablement.

Shift4 did not disclose the cost of the acquisitions but said they are expected to contribute more than $15 billion of end-to-end payment volume and $35M of adjusted EBITDA next year.

“These deals clearly show our ability to support existing transformational and global customers like SpaceX Starlink abd St. Jude Children’s Research Hospital and provide a real right-to-win additional customers across the nonprofit vertical,” said Shift4 CEO Jared Isaacman. “It also represents an exciting and responsible step towards further embracing cryptocurrencies and blockchain technology.”

The company said it will integrate Finaro’s capabilities to expand its services around the world. Shift4 has more than 425 software integrations and 200,000-plus merchant customers, many of whom have a multinational presence and provide immediate international opportunities the new deal has unlocked.

The Giving Block, meanwhile, connects cryptocurrency donors with more than 1,300 nonprofits. Shift4 said it will invest in this firm’s strategy while also going after a more than $45 billion embedded cross-sell opportunity offered by bundling crypto donation capabilities with traditional card acceptance.

“Cryptocurrency is quickly moving beyond early adoption and becoming increasingly mainstream as more people want to invest, transact and donate in crypto,” Isaacman said. “We intend to be at the forefront of this movement and leverage The Giving Block technology across the entire Shift4 enterprise.”

Read more: Space Crowded With the Rich as Virgin Galactic Joins SpaceX, Blue Origin

Last month, Issacman, who was a passenger on the first commercial SpaceX flight, unveiled his own Polaris Program, which is working with SpaceX on a series of flights featuring commercial spaceflight firsts, such as the first space tourism spacewalk and the highest Earth orbit ever flown.

“The first mission, Polaris Dawn, is targeted for no earlier than the fourth quarter of this year and will be commanded by Isaacman, an accomplished pilot and astronaut who led Inspiration4, the world’s first all-civilian mission to orbit that helped raise over $240 million for St. Jude Children’s Research Hospital,” the company said.