On Tuesday, the German fintech giant Hindenburg announced its next target: Block, the payments firm led by Twitter CEO Jack Dorsey.
Hindenburg, which is backed by the German government, is looking to expand its presence in the payments space. The company has already made a number of acquisitions in the payments sector, including the purchase of the German payments firm Wirecard in 2020.
Block, which was founded in 2018, is a payments platform that allows users to send and receive money from their phones. The company has raised over $100 million in funding from investors such as Square, the payments company founded by Dorsey, and Goldman Sachs.
Hindenburg is looking to leverage Block’s technology to expand its payments offerings. The company is also looking to use Block’s technology to develop new products and services.
Hindenburg’s move into the payments space is part of a larger trend of fintech companies looking to expand their presence in the payments sector. Companies such as PayPal, Stripe, and Square have all made moves into the payments space in recent years.
Hindenburg’s acquisition of Block is a sign that the company is serious about expanding its presence in the payments space. With the acquisition of Block, Hindenburg is well-positioned to become a major player in the payments sector.