Shares of the UK-based fintech enterprise, GSTechnologies (ASX:GST), surged by as much as 16.5% to 0.75p.

The significant gain ranked GSTechnologies among the top percentile performers on the London stock exchange.

This notable upswing follows the company’s completion of acquiring PAYPT Finance, a Canadian entity possessing a money services business license.

GSTechnologies has rebranded PAYPT Finance as Angra Global, planning to amalgamate it with its existing UK-based foreign exchange and payment services company.

Despite this steep hike, GSTechnologies stock has witnessed a decrease of 5.48% year to date as of the last close.

GSTechnologies is a UK-based fintech company, providing services in foreign exchange and payments.