Innova Capital invests in Polskie ePłatności

By on Juli 5, 2016

Innova Capital, a leading Central European private equity firm, together with its partner, OPTeam, which is listed on the Warsaw Stock Exchange, has invested in Polskie ePłatności (“PeP”). Thus, PeP will become a platform for the consolidation of the electronic payments sector in Poland. The transaction is another important investment by Innova in new technologies and financial services.

“In our investment strategy, we are consistently increasing our commitment in entities with a distinct technology DNA and a market position that opens the route for expansion and rapid growth. FinTech, a sector which combines financial services with state-of-the-art technologies, is not only a sector with a positive outlook, but also a well-known terrain for us. We have successfully made investments in the electronic payments market in such companies as Polcard (now FirstData), Euronet and Provus. PeP is a company in which we can see similar potential,” says Krzysztof Kulig, Managing Partner, Innova Capital.

“We believe our experience and equity commitment will support PeP’s management board in implementing an ambitious growth strategy. We also want to consolidate further entities into a strong group,” says Marcin Drozdowski, Managing Director, Innova Capital.

OPTeam, an IT company listed on the Warsaw Stock Exchange, signed an agreement on 23 June 2016 to purchase 50% of the shares in Centrum Rozliczeń Elektronicznych Polskie ePłatności [Centre of Electronic Clearance Polish ePayment] (“PeP”) from Polska Wytwórnia Papierów Wartościowych [Polish Security Printing Works] (“PWPW”). This stake gives 58.84% of voting rights at PeP’s AGM. Next, in accordance with an earlier agreement, OPTeam sold 75% of the shares in the company to Innova Capital, which simultaneously undertook to recapitalize PeP.

After the transaction closing and the capital injection into the company, within the framework of their strategic partnership, Innova and OPTeam will actively support the management board of PeP in the consolidation of the electronic payments market, both through further acquisitions and organic growth.

“PeP is one of the pioneers of the electronic payments market. The company was one of the precursors, launching contactless payments in Poland and has a significant share of the market. I believe that, together with Innova Capital, we shall create an entity that will soon become a leading clearing agent and the undisputed leader of e-payments in Poland,” emphasizes Wacław Szary, President of the Management Board of OPTeam S.A.

About Innova Capital

Innova Capital is a leading mid-market private equity firm in Central Europe. Founded in 1994, Innova Capital has, so far, invested almost € 700 m in 45 companies, across 10 countries in the region. In 2010, Innova Capital won the CEE Fund of the Year Award presented by Unquote magazine for its fifth fund Innova/5.

About the OPTeam Group

OPTeam SA has been operating on the Polish IT market since 1988. It has been listed on the Warsaw Stock Exchange since 2010. Over 25 years in business have translated into the company’s completion of numerous IT projects for businesses, universities and public institutions. OPTeam SA implements and integrates IT solutions dedicated to market sectors such as industry, energy, construction, trade and services, public administration, medicine and higher education.

OPTeam SA is a producer of industry-specific solutions and an integrator of specialist ERP IT systems supporting management in enterprises and institutions. The company is the leader of the electronic student ID card systems market. The Company has already supplied over 3 million electronic cards to Polish universities. OPTeam SA also provides and integrates advanced ICT solutions related to broadly-understood data security and builds ICT networks and data processing centres. The Company also specializes in designing and building solutions effectively using Internet technologies and operates in the area of sales systems integration.


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