Cash Payment Solutions, known by its brand barzahlen.de, sells a 53 % stake to GLORY.
The Background Sharing sensitive data remains a major problem for many people. This is particularly true of financial data. Instead of entering credit card information or account details online and not knowing who can see and use it, many customers prefer to pay for their products at stationary points of sale. barzahlen.de targets exactly these customers. With their service, they enable people to purchase items online and pay them offline. GLORY, as a global leader in cash management, pursues similar goals and proves to be the perfect partner for barzahlen.de for their future path.
The Deal GLORY acquired 53 % of Cash Payment Solutions, a Berlin-based company that is known by its brand barzahlen.de. IEG - Investment Banking Group, under the leadership of CEO Stefan Heilmann, has acted as exclusive financial advisor to Cash Payment Solutions | barzahlen.de. Stefan Heilmann says about the deal: "barzahlen.de and its founders Sebastian Seifert and Achim Bösch have successfully digitalized cash payments in Europe due to their unique management skill set and passion for innovating the huge cash market. With GLORY as the new majority shareholder, barzahlen.de will benefit from the strong international sales capabilities."
The Partnerbarzahlen.de offers cash-affine users various opportunities to use digital services without specifying sensitive fianancial data and is also the only payment system that is available to all Germans without restrictions. barzahlen.de is the largest private cash-payment platform in Germany and Austria with more than 16,000 retail partner stores such as REWE, Rossmann and dm drogerie markt. In addition, barzahlen.de operates in non-German-speaking European countries such as Italy under the brand name viacash. As a global leader in cash technology solutions, GLORY provides the financial, retail, cash centre and gaming industries with confidence that their cash is protected and always working to help build a stronger business. Employing over 9,000 professionals worldwide with dedicated R&D and manufacturing facilities across the world, GLORY is built on a rich customer-focused, technology-driven heritage spanning almost a hundred years.
The Perspective Sebastian Seifert, Founder and Managing Director of barzahlen.de shares insights about the new investor GLORY: "The closing of the financing round with GLORY strengthens our position both financially and strategically. With GLORY's many years of experience as a global market leader in the cash management set, we are optimally positioned for further European expansion and can further accelerate our growth".