Desmond invests €20m in rival to Paypal
BILLIONAIRE investor Dermot Desmond (above) has amassed a €20m stake in listed online payments firm Neovia.
Neovia is now the world's largest independent online money transfer business, operating in a similar sphere to internet giant Paypal.
The €75m company, quoted on London's AIM stock exchange, was formerly known as Neteller. Desmond's 26.5 per cent stake is held through investment vehicle Primatur.
Two weeks ago, the company spent €11m buying a European pre-paid debit card firm, as it targets growth in the sector.
- Nick Webb
