Nets to hold 40 percent of Orderbird

The Danish company Nets is said to have increased its stake in the Berlin fintech Orderbird to 40 percent. No money is said to have flowed into the start-up in return.

At first it was only 20 percent, but now the Danish payment service provider Nets is said to hold 40 percent of the Berlin fintech Orderbird. According to information from Finance Forward no money has flowed into the start-up itself, instead shares have been acquired from former shareholders. Investor Carsten Maschmeyer is also said to have reduced his stake. Oderbird is said to have been valued at 100 million euros in the process, according to Finance Forward writes.

The fintech has been around since 2011 and offers virtual POS systems for restaurants, businesses and retailers. Orderbird's earnings are made up of licenses and costs for additional services. According to the Berlin-based company, it is profitable.

Nets is a Danish company that took a similar approach to the payment service provider Concardis a few years ago as it is doing now with Orderbird: first the Danes gradually bought up shares, in 2019 there was a merger between Nets and Concardis, but in fact Concardis was absorbed into the Danish company and a reorganization of the structures followed. Finance Forward suspects that Nets could have similar plans for Orderbird and that the takeover could be the end of the investment. However, the industry portal writes that the current purchase of shares will not be accompanied by an agreement for a further increase for Nets.

Nets may be somewhat unhappy about the merger with Concardis: As revealed by the annual report for 2019, Nets had to pay 214 million euros in support to the Eschborn-based company.