Paysafe to Acquire German Fintech viafintech

Paysafe, a multinational online payments company, announced that it has signed a definitive agreement to acquire viafintech, a market-leading German fintech company, in an all-cash transaction. 

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For Paysafe​, this latest acquisition not only boosts its growth opportunities in Germany, a critical market for its international merchants, it also creates revenue-generating opportunities to cross-sell viafintech's alternative banking and payments solutions to its merchants around the world.

Headquartered in Germany, viafintech also has a presence in an additional five European countries with plans to expand further. It operates via a network of 20,000 points of sale with over 20 well-known retail partners, and also has deep relationships in the banking, bill payments and eCommerce industries.

The combination of viafintech's established banking framework and market leadership in Germany and elsewhere in Europe, together with Paysafe's diverse payments portfolio and international merchant base, is expected to create compelling growth opportunities for each organisation, both within Europe and beyond.   

As part of the deal, the viafintech team, including viafintech's managing directors, Sebastian Seifert, Achim Bönsch and Andreas Veller, will become part of Paysafe's expanding eCash and open banking solutions' team which is headed up by Paysafe eCash CEO, Udo Müller. 

Udo Müller, CEO, Paysafe eCash and Open Banking, commented:

"We are very excited to welcome a star player like viafintech into the Paysafe family. We believe the team are perfectly positioned to take advantage of the shift away from the legacy banking system in Germany and beyond as more and more challenger banks enter the market and consumers opt to use mobile-based solutions for banking and payments. By combining viafintech's leading solutions with our existing eCash and APM portfolio, we are well positioned as an essential payments partner to challenger banks around the world as consumer banking habits continue to evolve."

Sebastian Seifert, Co-founder and Managing Director of viafintech, added:

"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."