Copenhagen, Denmark – (BUSINESS WIRE) – Reepay, a leading Danish cloud-based SaaS platform that enables companies to manage their payment processes and subscriptions, today announced the collaboration with billwerk, a leading European provider of software solutions for subscription management and recurring billing. PSG, a leading growth public company focused on partnering with smaller, medium-sized software and technology-enabled service companies, will hold a majority stake in the combined company.
Reepay’s platform offers European companies an all-in-one billing and payments solution that consists of both a payment gateway designed for small and large businesses and a subscription management product for SMBs. Reepay’s customer base, headquartered in Copenhagen, spans across Europe with a particularly strong presence in the Nordic countries, including Denmark, Norway and Sweden.
The combination of Reepay and billwerk is intended to create a scalable subscription management and payment software product that is suitable for service companies of all sizes, from SMEs to SMEs to global companies at the corporate level. Reepay’s all-in-one billing and payment solution, which is well suited for smaller businesses, is expected to complement billwerk’s offering, which focuses on more complex subscription management solutions. In addition, Reepay’s strong presence in the Nordic region is intended to complement billwerk’s existing position in the DACH market and support the platform’s ambitions to become a pan-European market leader in the recurring market economy. The group’s solutions are also designed to be integrated with a wide range of payment services as well as ERP and CRM systems and are tailored to meet European regulations.
After the transaction, Reepay’s management team, led by Co-Founders CEO Robert Mygind and CTO Ole Borup, will continue to oversee the business, which is expected to have 1,400 customers, and plan to work closely with the billwerk management team and billwerk CEO Dr. Ricco Deutscher, who becomes Group CEO.
Dr. Ricco Deutscher, CEO and co-founder of billwerk, said: “We are excited to join forces with Reepay as we believe the company’s suite of products can take our existing offering to the next level and make us a European leader in subscription management . The combination will probably not only help us to serve companies of all sizes, but can also help us to expand our strong market position in the DACH region by significantly expanding our presence in Scandinavia. ”
“With billwerk and PSG, we believe that we have found the perfect partners to support Reepay’s continuous growth and, in particular, its expansion beyond the Nordic region,” said Robert Mygind. “We believe the merger will help us move closer to our common goal of creating a leading subscription management and payment service provider in Europe,” said Ole Borup, CTO and co-founder of Reepay.
Romain Railhac, Managing Director at PSG said: “Although the European subscription management market is still fragmented and in its infancy, we believe that the use of subscription management tools will continue to grow as companies continue to move their business models online. Our goal is to serve this market by making billwerk, now in combination with Reepay, a scaled European player offering leading solutions to help companies expand and optimize their subscription and payment management processes. ”
In May 2021, PSG announced its majority growth stake in billwerk, which is headquartered in Frankfurt.
The financial terms of the transaction will not be disclosed.
Notes for editors
Reepay was founded in 2015 by Robert Mygind and Ole Borup. Reepay is a subscription management platform and payment gateway that serves all parts of the operation of a web shop and / or a subscription business. Today Reepay employs more than 10 people in its office in Copenhagen, Denmark. The platform serves large web shops and subscription companies in Denmark such as Danske Spil, Øresundsbron, Interflora, Coolshop, Saxo.com and many more. https://reepay.com
billwerk was founded in 2015 by Dr. Ricco Deutscher and his co-founders founded. With its subscription management platform, billwerk reliably provides a significant part of the digital value chain for recurring business models. Today billwerk employs 67 people at its headquarters in Frankfurt, Germany, and offices in Minsk, Belarus and Gdansk, Poland. Its subscription management platform is currently used by hundreds of medium and corporate customers as well as fast growing startups in Germany, Switzerland and France, with a growing presence in other European regions including Scandinavia and Benelux. https://billwerk.io/
PSG is a growth public company that works with midsize software and technology-enabled service companies to help them master transformative growth, seize strategic opportunities, and build strong teams. PSG has supported more than 85 companies and facilitated over 325 add-on acquisitions. PSG brings extensive investment experience, in-depth software and technology know-how and a firm commitment to working with management teams. PSG was founded in 2014 and operates out of offices in Boston, Kansas City and London. To learn more about PSG, visit www.psgequity.com.