A culmination of over two years negotiations, the deal will make Cohort Go’s payment services available to IDP clients, a significant boon for the company after experiencing a 24% increase to its user base in the past six months.
Cohort Go CEO and co-founder Mark Fletcher said the deal would increase exposure for his company’s payment services both within Australia and abroad, and aligned with IDP’s growth expectations.
“This specifically aligns with where we are and what we’re looking to do,” he said.
“It is a big deal, and from our point of view we’re very happy with it”
“A lot of [IDP’s] expansion is into Canada, the UK, New Zealand and to a lesser extent the US, which is fairly similar to our footprint as well. There is a nice synergy and match in the type of company they are, who they’re going after, and ourselves.”
Phase one of the agreement will see the payment services rolled out to IDP branch offices in Australia, Cambodia, China, Thailand, Vietnam, Singapore, Philippines, India, Hong Kong, Malaysia, Taiwan, Indonesia, South Korea and Bangladesh, with eight additional offices launching later in the year.
Fletcher told The PIE News the deal was a significant moment in the company’s history after it was founded in 2011.
“It is a big deal, and from our point of view we’re very happy with it. It continues to provide that credibility and view on how we’ve gone in the past and where we’re going in the future,” he said.
“We continue to think there are opportunities for us to roll out our broader platform.”