Paysafe takes over Berlin fintech

It is the third takeover in a short space of time and the clear goal: expansion. The Viennese company is taking over the Berlin-based fintech Viafintech, although no amount is known.

Paysafe is in takeover fever and has now also struck the German market. The Viennese company is taking over Viafintech, which offers cash processing for retailers and customers under the Barzahlen and Viacash brands. The entire team, including the managing directors Sebastian Seifert, Achim Bönsch and Andreas Veller, will be taken over. They will work in the eCash and Open Banking division of Paysafe under the leadership of Udo Müller.

"We are delighted to become part of the Paysafe Group and believe that this step will enable us to build on our previous business successes," says Seifert about the acquisition of his company. Together, they plan to expand into other regions; following the takeover, Paysafe will have over one million sales outlets in more than 60 countries. The company offers a payment platform. Paysafe's eCash division, where Viafintech's team will be based, provides secure online payment solutions enabled by prepaid and online cash offerings.

The aim of the acquisition is to achieve growth in the German market and increase sales. Udo Müller comments on the addition: "We are delighted to welcome a star player like viafintech to the Paysafe family."

As part of the takeover, Grenke Bank will remain a partner of viafintech, but will sell its shares to Paysafe. The Japanese majority shareholder Glory joined Viafintech in 2019 and previously held a 53% stake in the start-up, but is now also selling its shares to Paysafe.

So far, only an agreement to acquire Viafintech has been signed and is expected to be finalized in the coming months. No amount is known.