FRANKFURT, Germany–(BUSINESS WIRE)–PSG, a number one progress fairness agency that focuses on partnering with middle-market software program and technology-enabled companies corporations, right this moment introduced the acquisition of a majority stake in billwerk, a number one European supplier of subscription administration and recurring billing software program options.
The billwerk subscription administration platform affords European corporations throughout industries a one-stop store to handle their subscription enterprise. Its scalable and open, multi-cloud platform is designed to offer versatile options to totally automize an organization’s recurring subscription processes as part of an built-in resolution method.
Based in 2015, billwerk has greater than 40 workers throughout its headquarters in Frankfurt, Germany, and workplaces in Minsk, Belarus and Gdansk, Poland. Its subscription administration software program options are at the moment utilized by a number of hundred fast-expanding start-ups in addition to midsize and enterprise prospects throughout Germany, Switzerland and France, with a rising presence in different European areas together with the Nordics and Benelux.
Following the transaction, the corporate will proceed to be led by its Co-Founder Dr. Ricco Deutscher, persevering with in his position as CEO. PSG intends to assist billwerk’s worldwide progress plan each organically and by way of strategic M&A exercise.
“We imagine that billwerk’s place as a European chief within the subscription administration area is pushed by a superior product that seeks to make sure an organization’s compliance with strict European regulatory requirements,” mentioned Dany Rammal, Managing Director and Head of PSG Europe. “The fragmented European subscription administration market continues to be in its nascency, and we imagine that billwerk is well-positioned to learn from the rising uptake in using subscription administration instruments as corporations shift their enterprise fashions on-line. We look ahead to working with Ricco and the staff in supporting the subsequent section of billwerk’s improvement,” famous Romain Railhac, Director at PSG.
billwerk’s Co-Founder and CEO Dr. Ricco Deutscher added, “We imagine we’ve discovered the right companion in PSG primarily based on their distinctive focus and expertise in partnering with founder-led software program corporations and supporting their progress all through Europe, and past. We’re excited to work with the PSG staff as we establish new alternatives to scale our enterprise.”
PSG’s funding in billwerk is the ninth platform funding constructed from the agency’s inaugural Europe-focused fund, PSG Europe, which held a closing shut with €1.25 billion in third-party restricted companion commitments in January 2021. It follows the latest acquisition of a majority stake in Nalanda World, introduced in April 2021, in addition to different platform investments in Hornetsecurity, Imaweb, MAPAL Group, Nomentia, Signaturit Options, SKEEPERS and Sympa.
The monetary phrases of the transaction usually are not disclosed, and its completion is topic to the receipt of regulatory approval.
Notes to Editors
PSG is a progress fairness agency that companions with middle-market software program and technology-enabled companies corporations to assist them navigate transformational progress, capitalize on strategic alternatives and construct robust groups. Having backed greater than 65 corporations and facilitated over 300 add-on acquisitions, PSG brings in depth funding expertise, deep experience in software program and know-how, and a agency dedication to collaborating with administration groups. Based in 2014, PSG operates out of workplaces in Boston, Kansas Metropolis and London. https://www.psgequity.com/
billwerk was based in 2015 by Dr. Ricco Deutscher and his Co-Founders. With its subscription administration platform, billwerk reliably offers a major a part of the digital worth chain for recurring enterprise fashions. Right now billwerk employs greater than 40 workers throughout its headquarters in Frankfurt, Germany, and workplaces in Minsk, Belarus and Gdansk, Poland. Its subscription administration platform is at the moment utilized by a number of hundred midsize and enterprise prospects in addition to quick increasing start-ups throughout Germany, Switzerland and France, with a rising presence in different European areas together with the Nordics and Benelux. https://billwerk.io/