Nets to hold 40 percent of Orderbird

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

First it was only 20 percent, now it is said to be 40 percent, which the Danish payment service provider Nets holds in the Berlin fintech Orderbird. According to information from Finance Forward no money has flowed into the start-up itself, but instead shares have been taken over from former shareholders. Investor Carsten Maschmeyer is also said to have scaled back his shares. In the course of this, Oderbird is said to have been valued at 100 million euros, as Finance Forward writes.

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

Nets is a Danish company that a few years ago with the payment service provider Concardis similar to what has now happened with Orderbird: first the Danes bought shares gradually, in 2019 there was a merger between Nets and Concardis, but in fact Concardis was merged into the Danish company and a reorganization of the structures followed. Finance Forward suspects that Nets may have similar plans for Orderbird, with the acquisition at the end of the investment. With the current purchase of shares, however, is not to be accompanied by an agreement to further increase for Nets, writes the industry portal.

About the merger with Concardis, Nets might be a bit unhappy: As revealed by the annual report for 2019, Nets had to pay 214 million euros to support the Eschborn-based company.