Private equity firm operating in Central and Eastern Europe, Innova Capital, acquired shares in PayPoint Romania from PayPoint plc, a company listed on the London Stock Exchange (LSE). The transaction is subject to competition and regulatory approval and requires a number of additional conditions, and is expected to close on March 31, 2021.
PayPoint Romania is the leading operator of payment terminals for individual clients in Romania, handling over 100 million bill transactions for 85 percent of Romanian utility and telecommunications providers through an extensive network of retail outlets. Its payment terminals are located up to 500 meters from 81 percent of customers in this country. PayPoint Romania services are aimed at meeting the needs of customers by offering safe, simple and fast payment solutions. In addition to bill payments, the company also offers phone top-ups, money transfers, and credit and debit card acceptance services.
“We are glad that we were able to acquire a valued leader in the bill payment segment on the lucrative Romanian market. With easy access to terminals, favorable relationships with retailers, and reliable services, the company is a preferred local brand and trusted partner for utilities and service providers. Using our experience and know-how in the field of payment processing and working closely with the company's management, we intend to support the development of PayPoint Romania and expand the company's portfolio of services. PayPoint Romania is an excellent basis for the further development of payment solutions, enabling customers to access even safer, faster and easier payments," Krzysztof Kulig, Senior Partner at Innova Capital, said.