OLB Group Acquires CBD Merchant Portfolio with Annual Transaction Volume Over $400 Million
Portfolio includes over 1,500 merchants, which will provide OLB with a strong position in a rapidly growing marketplace
Acquisition includes new sales channel currently onboarding an average of 120 new accounts a month
Based on historical performance, deal expected to add approximately $20 million in annual payment processing revenue, increasing total revenue 200%, with an additional $5 million EBITDA projected
The OLB Group, Inc. (NASDAQ:OLB), a diversified fintech merchant services provider and Bitcoin mining enterprise, today announced it has entered into a definitive agreement to acquire a portfolio of cannabidiol (CBD) merchants that will utilize the company's SecurePay Payment
