Okto Expands in the US Market with Flexia Acquisition

In a strategic move to strengthen its position in the North American market, Okto has announced its acquisition of the Las Vegas-based fintech company, Flexia. This deal is set to have a transformative impact on the digital payment services landscape in the region.

Flexia, which offers a comprehensive digital payment solution through its Flexia Prepaid Mastercard, has been making waves with its innovative approach to incorporating casino and online wagering accounts and loyalty programs. This acquisition will enable Okto to leverage Flexia's expertise and resources, providing a significant boost to its cashless and omnichannel payment services.

One of the key objectives of this collaboration is to drive the full digitalization of the customer experience in both gaming and non-gaming activities. Okto, known for its presence in five European countries and Brazil, now establishes a solid foothold in the US market. This expansion aims to position Okto as a leader in digital payment services, catering to the North American land-based and online gaming markets with its omnichannel offering.

Theo Engelis, Okto's vice-president of North America, stated, "This acquisition aims to place Okto at the forefront of digital payment services provision in the North American land-based and online gaming markets via its omnichannel offering. This marks a significant enhancement for both companies and aligns with our ongoing cashless strategy in Europe and Latin America."

Flexia's CEO, Craig Libson, expressed enthusiasm about the partnership, saying, "Our partnership with Okto grants us access to significant resources and capabilities, accelerating the deployment of advanced cashless and omnichannel payment services to the ever-expanding gaming market. The synergies between the two companies, our industry-best platform and pipeline, blended with Okto's powerful payment technology and existing business line combine to form the foundation for success in the North American market and beyond."

This collaboration between Okto and Flexia is set to shape the landscape of digital payments in the North American gaming sector, offering enhanced convenience and efficiency to customers and businesses alike.