Paysafe acquires Berlin-based fintech

It is the third acquisition in a short time, the clear goal: expansion. The Viennese company takes over the Berlin fintech Viafintech, nothing is known about a sum.

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

"We are delighted to become part of the Paysafe Group and believe this move will allow us to build on our previous business successes," says Seifert of his company's acquisition. Together, they plan to expand into more regions; after the acquisition, Paysafe will have more than one million points of sale 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 acquisition is expected to drive growth in the German market and increase revenue. Commenting on the addition, Udo Müller says: "We are delighted to welcome a star player like viafintech to the Paysafe family."

As part of the acquisition, Grenke Bank will remain a partner of viafintech, but the Baden-Württemberg-based bank will sell its shares to Paysafe. Japanese majority owner Glory joined Viafintech in 2019 and held 53 percent of the startup until now, now it is also selling its shares to Paysafe.

So far, there is only a signing of an agreement to acquire Viafintech, with the deal expected to close in the coming months. Nothing is known about a sum.