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 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 Stefan Heilmann and IEG which contains many contacts in the Banking and FinTech sector helped a lot and really sets IEG apart. Generally IEG is very well connected; also within those sectors of the Berlin scene someone normally does not offer very strong connections. IEG has…