eMAG acquires Orange Money to expand financial services portfolio

Romania’s eMAG and HeyBlu, a financial services company owned by the eMAG group, have announced the acquisition of Orange Money by taking over 100% of its shares. The transaction is part of eMAG’s strategy to expand and diversify its financial services, the company said.

“The acquisition of Orange Money is part of eMAG’s strategy to leverage technology to develop new and efficient services that meet the current needs of customers and partners. We continue to invest in the development and improvement of financial services, both to provide customers with multiple shopping options and to address the growing demand from our partners for these solutions,” said Tudor Manea, CEO of eMAG Group.

Orange Money was founded by the Orange Group and was sold two years ago to Alpha Bank, which was later acquired by UniCredit, Ziarul Financiar noted.

Currently, over 2.5 million customers can access flexible financing options available in My Wallet, ranging from payment deferral for 30 days to installment plans of 4, 6, 12, 24, or 36 fixed payments for orders up to RON 10,000. These financing options apply to both products sold directly by eMAG and those offered by partner sellers on the Marketplace.

Founded in 2001, eMAG is a pioneer in the e-commerce sector, expanding its operations in Romania, Hungary, and Bulgaria.

Founded in 2023, HeyBlu is a fintech company aiming to become a regional leader by providing customers with financing solutions.

(Photo source: eMAG)