Advent International and Bain Capital, one of the largest online retailers in the world, have purchased e-commerce payment firm RatePAY.
Based in the DACH region – Germany, Austria and Switzerland, among other countries – RatePAY offers invoice, instalment, direct debit and pre-payment solutions to B2B and B2C online and mobile customers.
With a highly sophisticated risk assessment technology, they provide a full service and modular offering including risk management, debtor management and debt collection to merchants.
European technology investment bank GP Bullhound acted as the exclusive financial advisor to the Otto Group on the sale.
Martin Mildner, global head of M&A at Otto, said: “GP Bullhound has been a great advisor to us on the transaction.
“The team’s commitment and strong expertise in the sector was instrumental in the process, which led to a successful outcome.”
This represents the completion of GP Bullhound’s seventh transaction in 2017 and further establishes the firm’s expertise in advising Fintech category leaders, following on from previous transactions including Lendinvest, Emric, Prodigy Finance, Pozitron and Klarna.
RatePAY Jesper Wahrendorf added: “GP Bullhound has been a great advisor on this journey.
“Their deep advisory experience, sector expertise and international reach has been instrumental in making this deal possible.
“We look forward to continuing on our journey together with Advent International and Bain Capital.”
Carl Wessberg, Director at GP Bullhound, commented: “We are delighted to have advised Otto Group on the sale of one of the leading German Fintech companies to two leading investors in the global payments and financial services ecosystem: Advent International and Bain Capital.
“This is another marquee transaction for GP Bullhound in the Fintech space.”