Merrco Payments is rebranding.
The Toronto-born fintech, with offices in Vancouver and Calgary, this week announced leadership changes amid a rebranding to KORT Payments.
Merrco, founded in 2016, is a global leader in compliant cannabis payments, boasting 50% national coverage in Canada’s market.
In 2018, the company fused with fellow Canadian fintech Payfirma, which was founded in Vancouver in 2010 to innovate payments technology.
Now, Joel Leonoff is preparing to usher in the next chapter of Merck’s legacy as KORT, a parent company that will “focus on exploring strategic merger and acquisition opportunities and expediting growth into various verticals and new geographies.”
“Merrco has tremendous market potential,” chief executive officer Leonoff stated, “and we are excited to build upon its strong foundation.”
With an enterprise-grade platform, KORT will aim to offer omni-channel integrated and e-commerce payment solutions, building out products and technology targeting US and European markets to support “aggressive growth plans.”
The Merrco brand remains part of the KORT family, according to Leonoff, and will continue to advance its “suite of specialized products.”
Leading the charge at KORT is the same team that founded Optimal Payments, later rebranded to Paysafe, which sold in 2017 for £2.96 billion.
This “group of pioneers” are “eager to return to the payment processing industry,” according to a statement from KORT.
The team combines 200 years of collective experience in global e-commerce and payment processing as they prepare to embark on a “transformative journey.”
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