The Deal GRENKE BANK AG invests in the Berlin-based FinTech company and accelerates growth of its payment infrastructure. IEG – Investment Banking Group acts as exclusive financial advisor to Cash Payment Solutions GmbH - Barzahlen.de. Just six months after the investment by the REWE group, Barzahlen.de has successfully completed another financing round. “We are especially convinced by the rapidly built up payment infrastructure with more than 9,000 retail partner stores”, says Sven Noppes, board member of GRENKE BANK AG. “Cash Payment Solutions GmbH has the potential to complement the branch structure of banks sustainably and efficiently by facilitating ingoing and outgoing payments through retailers.”
The Partners Barzahlen.de is Germany’s largest private cash payment infrastructure. More than 9,000 retail stores of stationary partners REWE, dm-drogerie markt, PENNY, real,-, Telekom, Budni, mobilcom-debitel, Ludwig, Eckert and Barbario provide the basis for customers‘ basic banking needs such as bill payments as well as cash withdrawals and deposits from their own bank account. Since 2009 the GRENKE BANK AG is a wholly owned subsidiary of GRENKELEASING AG and part of the GRENKE Group. The GRENKE Group is a broadly diversified provider of IT-based services in Small-Ticket-IT-Leasing, Factoring and Banking for small and medium-sized companies.
The Perspective The CEO of Barzahlen.de Sebastian Seifert feels affirmed in becoming Germany’s largest independent payment infrastructure now, with the investment from the GRENKE BANK AG as an important strategic milestone: “We have recognized, that nearly all industries possess inefficient cash payment processes. Therefore we have decided to expand our Barzahlen.de solution from utility companies to also banks, insurers, telecommunication companies and housing associations in order to provide them with more efficient cash payment processes. Banks in particular face the challenge that own branches and cash machines are becoming unprofitable.” The investment allows to accelerate the expansion to new industries and to further develop the product.
The network of IEG within the Fintech sector helped a lot and sets IEG apart. IEG has accompanied the whole process – incl. preparation of all documents, management of meetings and negotiation during the DD process. It was very helpful to have an experienced entity with us who has completed this kind of transactions before. To have a second party involved who is able to contradict the investor…