Japanese banking giant GLORY Ltd acquires Berlin-based fintech Cash Payment Solutions GmbH

cashmanagementsolutions

Berlin-based Cash Payment Solutions GmbH has announced that it is selling 53% of its shares to the Japanese cash management company GLORY Ltd. The shares of Grenke Bank AG and the founders Achim Bönsch and Sebastian Seifert will remain unaffected by the deal. At the same time, the managing directors are committed to the company in the long term.

Cash Payment Solutions GmbH was founded in 2011 and is a bank-independent payment infrastructure in Europe, represented by the brands Barzahlen in Germany and Austria, and as viacash in Switzerland and Italy.

With around 16,000 branches of stationary partners, such as REWE, Rossmann, PENNY, BILLA, SBB, PAM and dm, customers can handle their basic banking needs on the way. Cash Payment Solutions GmbH was founded in 2011 and is managed by Achim Bönsch, Sebastian Seifert and Andreas Veller.

The payment service is provided by Grenke Bank AG in Germany and Austria. In Switzerland, the SBB receives the invoice amount for viacash in the name and for the account of Hypothekarbank Lenzburg AG.

“The completion of the financing round with Glory and Grenke strengthens our position both financially and strategically,” said Sebastian Seifert. “Glory’s years of experience as a global cash management leader, position us ideally for further European expansion and will accelerate our growth even further.”

The completion of the transaction is subject to clearance from the relevant regulatory authorities in accordance with applicable laws and regulations. As part of the current round of financing, the financial investors involved so far are selling their shares in Cash Payment Solutions GmbH. Thus, the Alstin Group of Carsten Maschmeyer, REWE Digital GmbH and BTH as well as various business angels exit as investors.

“The departing investors have had a significant share in the successful development of Cash Payment Solutions GmbH,” said Sebastian Seifert. “We thank you for the trust you have placed in us over the last few years and the energetic support. For the next stage of growth, we are looking forward to working together with our new strategic partner Glory.”