Windsor Drake
Transaction · Neobank · 2023

GSTechnologies / Semnet 2023

GSTechnologies Limited acquired Semnet for $2M on December 6, 2023.

Target
Semnet
Acquirer
GSTechnologies Limited
Deal value
$2M
Announced
December 6, 2023
Sub-sector
Neobank

Transaction overview

  • GSTechnologies Limited announced the acquisition of Semnet on December 6, 2023 for $2M.

Strategic rationale

Acquire cybersecurity expertise and licenses critical to GS Money and B2B neobanking operations, supporting Angra Global customer onboarding and white-label solutions.

Deal terms & multiples

Deal value
$2M
Target revenue
Not disclosed
Target EBITDA
Not disclosed
EV / Revenue
Not disclosed
EV / EBITDA
Not disclosed
Announcement
December 6, 2023
Acquirer
GSTechnologies Limited (Strategic)
Sub-sector
Neobank

Sources

Comparable transactions in Neobank

Primary Event type Counterparty Value Sub-sector Date
Oma Savings Bank Transaction S-Bank Neobank July 9, 2026
GoHenry Transaction Barclays Neobank June 12, 2026
Timo Transaction Kredivo Group Neobank March 23, 2026
PC Financial Transaction EQB Inc. Neobank December 3, 2025
Kriya Transaction Allica Bank Neobank October 22, 2025
Bank Zero Transaction Lesaka Technologies Neobank June 27, 2025