Abu Dhabi-based Investment Group acquires stake in Masterpayment
(firmenpresse) - (DGAP-Media / 18.10.2012 / 17:09)
The agreement signed by the new investor from the United Arab Emirates
represents a milestone in the unparalleled success story of this e-commerce
and mobile payment solution specialist
Munich/Starnberg and London, 18th October 2012 - Masterpayment further
accelerates its rapid growth and impressive success with an investment by
a distinguished Abu Dhabi-based Investment Group who is now Masterpayment's
largest individual shareholder, basing their investment decision on the
company's valuation at a mid-range eight-figure sum. The investment is
aimed at taking growth at the e-payment specialist to a new level,
primarily by focusing on enhancing Masterpayment's international profile
and expanding its product portfolio.
Masterpayment is currently one of Europe's fastest-growing payment
businesses, and supplies online retailers with intelligent APIs and
pre-integrated payment modules as near-instantaneous integration options
for their diverse shop systems. The young company's streetpay product is
the first smartphone-enabled payment service to hit the German market. Over
11,000 retailers signed up for the service within just a few months of its
launch. The figures also confirm this success: Q3 2012 saw the company
achieve its best ever quarterly results, experiencing 200-percent
quarter-on-quarter growth. At present, Masterpayment's sales are doubling
every second month, so it's little wonder that the e-payment specialist
with offices in Munich/Starnberg and London is also attracting the
attention of prestigious international investors.
'We are very selective in pursuing our investment strategy. We undertook a
comprehensive review of the market and identified Masterpayment as the
pioneer and innovation leader in the field of e-commerce and mobile payment
solutions. The company's business model is flexible, and international
markets in particular are in urgent need of services of this nature. As a
result, we anticipate high growth rates due to expansion in the UK, the
Middle East, India and other Asian countries. We are therefore very pleased
with our investment in Masterpayment and await future developments with
confidence and optimism', said the CEO of the new Masterpayment
shareholder.
'To us at Masterpayment, this investment represents an outstanding
opportunity for the company. It is an exceptional honour for us to have won
the support of one of the world's most respected and financially most
powerful investors,' said Stefan Tittel, CEO of Masterpayment. 'This is an
extremely significant step for us. Although we are expanding rapidly and
our sales are growing in leaps and bounds, markets outside Germany possess
the most potential for our business model. This new investment gives us the
resources we need to expand on an international level, and we are looking
forward to the challenge of winning markets outside Germany in the near
future.'
Supervisory board chairman Danyon Lloyd explains: 'Masterpayment has the
potential to play alongside the big names in the payment solutions sector.
It is my firm belief that Masterpayment will continue to extend its lead in
Europe over US-based companies such as Stripe, Groupon and SquareUp, which
are likely to move into European markets in the future. Masterpayment will
stand out from its competitors by the impressive scalability of its
business model, its mature IT platform, the team's e-payment expertise and
ability to address the highly varied regulatory landscape in Europe.'
Further information is available at www.masterpayment.com and
www.streetpay.com.
About Masterpayment
Masterpayment (www.masterpayment.com) was founded in 2010 and maintains
offices in London, Starnberg (near Munich) and Cracow.
Masterpayment provides e-commerce payment services of outstanding quality
and belongs to the fastest growing payment businesses. The company's
objective is to use a high-performance IT platform to provide even small
retailers and shop owners with the best possible service which includes all
payment options and innovative additional features/tailored solutions at
highly competitive prices. Masterpayment is the only service provider on
the market that does not charge monthly fees, connection costs, minimum
contract periods or similar practices. Some 2,300 e-commerce retailers have
already placed their trust in Masterpayment's business concept and signed
up for the company's service; a further 5 companies join the firm's network
every day.
On the German market, Masterpayment was the first service provider to
facilitate card reader-based payment solutions for smartphones. This
service enables smaller local and mobile businesses to accept credit cards
as payment regardless of constraints in relation to time and place. With
around 12.000 registered merchants Masterpayment is considered to be the
market leader in Central Europe. Further information is available at
www.streetpay.com.
Press contact:
Stefan Tittel
CEO
Masterpayment AG
Münchener Str. 15a
82319 Starnberg
Germany
stefan.tittel(at) masterpayment.com
Verena Krebs
Susanne Nguyen
Bite Communications GmbH
Flößergasse 4
81369 Munich
Germany
Tel: +49 89 4444 674 14
Fax: +49 89 4444 674 79
masterpayment(at) bitecommunications.com
End of Media Release
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Issuer: Masterpayment
Key word(s): Computer/Telecommunication
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