Australian Payments Plus (AP+) has agreed to sell Beem to Bolt Group as it sharpens its focus on payments and identity infrastructure.

Beem is a peer-to-peer payments app best known for group expense tracking and has recorded more than 3 million downloads.

AP+ CEO Lynn Kraus said,

“The sale of Beem reflects a deliberate move for AP+ to sharpen its focus on the role it plays in building and operating Australia’s critical payments and identity infrastructure, including eftpos, the NPP, ConnectID and BPAY.”

Bolt plans to expand Beem over time by adding access to transaction and savings accounts, multi-currency features and investing services as it develops the app into a broader everyday money platform.

The company will also continue building on Beem’s position among younger Australians.

Bolt Group Australia CEO James Woodward said,

“Beem is a uniquely Australian success story, with millions of registered users and a product that customers genuinely value.

AP+ has built something special, and we are excited to take it into its next phase.”

There will be no immediate changes for existing users, with services continuing as normal during the transition.

AP+ and Bolt Group said they will work together to transition services by the end of June 2026 and support customers through the process.

Featured image: Edited by Fintech News Australia, based on image by farknot via Freepik