RC365 Holding has conditionally entered into a share swap and collaboration agreement with Hatcher Group, a Hong Kong-listed financial services provider with a market value currently of around £100mln.
Through the deal, Asia-focused payments group RC365 will receive 18mln shares in Hatcher worth £3.42mln and in return issue shares to the HK group worth £3.66mln.
On its conclusion, Hatcher will hold 14.34% of RC365, which in turn will have a 4.63% stake in its new partner.
A Memorandum of Understanding has also been signed that will see the two work together to develop smart algorithm technology for asset recommendations and other fintech-based solutions.
Chi Kit Law (Michael), RC365’s executive director and chief executive, said: "We are delighted to have entered into these agreements with Hatcher and I would like to welcome our new shareholder who clearly appreciates our achievements to date and importantly shares our vision for the future."