Tech

EML sells Irish fintech Sentenial in cut-price deal

GoCardless is buying the business for €32.7 million, after EML bought it for an upfront €70m with a €40m earn-out component two years ago

EML has disposed of Sentenial, which it acquired for an upfront enterprise value of €70m. Picture: Getty

Sentenial, the Irish fintech acquired by EML Payments in 2021 in a deal worth up to €110 million, has been sold to GoCardless for €32.7 million.

Brisbane-based EML has been in retreat after acquiring both Sentenial and PFS Card Services (Ireland) Limited (PCSIL) as it looked to expand in Europe. The company recorded a tax impairment of AUS$258.9 million (€153.7 million), due to its two Irish businesses last year. Sentinel contributed to losses with a ...