Paysafe has signed a definitive agreement to acquire German firm viafintech for an undisclosed amount in an all-cash transaction.
The move is aimed to strengthen Paysafe’s growth opportunities in Germany and increase revenue-generating channels.
The deal is expected to close over the following months, subject to customary conditions.
Founded in 2011, viafintech provides bank independent, payments infrastructure in the DACH region. It enables consumers to make deposits, withdraw cash or transfer money from their digital bank accounts at a nearby retail store using a barcode.
viafintech solutions also support bill payments, credit payouts and online shopping. Particularly, the fintech provides consumers, who don’t have bank accounts, an alternative to traditional banking.
viafintech also operates in five other European countries. In Germany and Austria, it is known as Barzahlen/viacash , while it operates as viacash in Switzerland, Italy, Greece and Spain.
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As agreed, the viafintech team, including its management, will migrate to Paysafe.
Viafintech co-founder and managing director Sebastian Seifert said: “We are delighted to become part of the Paysafe Group and believe this move will enable us to build on our business achievements to date and accelerate our future growth as Europe’s number one, non-banking, cash-in / cash-out infrastructure, further fuelling the shift away from legacy banking and driving more financial inclusion in general.”
Other Paysafe deals:
After the completion of these three deals, Paysafe eCash business will offer eCash and open banking solutions in around 60 countries.