(29 July 2025 – United States) Corpay will acquire Alpha Group in a US$2.2 billion cash deal to drive growth in resurgent private markets for the fellow Business FX provider.
Corpay is a global leader in business payments and expense management, offering a range of solutions that streamline accounts payable (AP), manage expenses and handle international transactions. From vehicle payments and lodging to corporate cards, AP automation, and international payments, Corpay seeks to simplify business spending.
Alpha is a leading provider of B2B cross border FX solutions to corporations and investment funds in the UK and Europe. Almost two-thirds of the UK-based company’s revenue comes from the private markets and institutional funds vertical. Alpha pioneered alternative bank accounts as a simpler, faster way for investment managers to fund their investments and pay expenses anywhere in Europe, holding US$3 billion of deposits in over 7,000 client accounts.
Alpha’s Business FX unit will also strengthen Corpay’s cross border business in the UK and Europe and open up new markets in Germany, Malta and the Netherlands.
“We couldn’t be happier to acquire Alpha. This transaction meaningfully expands our relationships with investment managers and results in four Cross Border customer segments: corporates, financial institutions, investment funds and digital currency providers. The banking account product and Alpha’s technology extend our cross-border solution set and further diversify our revenue streams” said Corpay CEO and Chairman, Ron Clarke.
“We’re acquiring Alpha for three reasons. First, it’s a large, highly complementary, fast-growing corporate payments asset with good prospects. Second, Alpha is a leading provider of alternative bank accounts to European-based investment managers. There is significant runway to expand those investment manager relationships into the US and Asia with our help. The banking account product and Alpha’s technology extend our Cross Border solution set and further diversify our revenue streams. And third, we expect the acquisition to be meaningfully EPS accretive in 2026” Clarke added.
“We’re very excited to announce that we’ve reached an agreement on the terms of a recommended cash acquisition of Alpha Group. Thank you to the Alpha Executive Team and congratulations on this important milestone” commented Corpay Group President, Mark Frey.
“We’re delighted to consummate this transaction with Corpay. Corpay’s position as the leading non-bank provider of B2B cross border solutions is the perfect home for our people and will broaden their career prospects over time. Additionally, Corpay’s global footprint, licenses, bank relationships, technology, and balance sheet will accelerate our growth momentum, particularly in our institutional investor business” stated Alpha Group CEO Clive Kahn.