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GP Bullhound advises Otto Group on the sale of RatePAY to Advent International and Bain Capital

Hamburg, 4 April 2017 – GP Bullhound, the European technology investment bank, acted as the exclusive financial advisor to the Otto Group on the sale of RatePAY GmbH (”RatePAY”) to Advent International and Bain Capital.

RatePAY is one of the leading providers of payment solutions to eCommerce merchants in the DACH region, offering invoice, instalment, direct debit and pre-payment solutions to B2B and B2C online and mobile customers. With a highly sophisticated risk assessment technology, they provide a full service and modular offering including risk management, debtor management and debt collection to merchants.

Martin Mildner, Global Head of M&A and General Counsel at Otto Group commented: “GP Bullhound has been a great advisor to us on the transaction. The team’s commitment and strong expertise in the sector was instrumental in the process, which led to a successful outcome.”

Jesper Wahrendorf, CEO of RatePAY, said: “GP Bullhound has been a great advisor on this journey. Their deep advisory experience, sector expertise and international reach has been instrumental in making this deal possible. We look forward to continuing on our journey together with Advent International and Bain Capital.”

Carl Wessberg, Director at GP Bullhound, commented: “We are delighted to have advised Otto Group on the sale of one of the leading German Fintech companies to two leading investors in the global payments and financial services ecosystem: Advent International and Bain Capital. This is another marquee transaction for GP Bullhound in the Fintech space.”

This represents the completion of GP Bullhound’s seventh transaction in 2017 and further establishes the firm’s expertise in advising Fintech category leaders, following on from previous transactions including Lendinvest, Emric, Prodigy Finance, Pozitron and Klarna.

Enquiries
For enquiries please contact Julian Riedlbauer, Partner, at julianriedlbauer@gpbullhound.com, Guillaume Bonneton, Partner, at guillaume.bonneton@gpbullhound.com or Carl Wessberg, Director, at carl.wessberg@gpbullhound.com.

About GP Bullhound
GP Bullhound is a leading European technology investment bank with a passion for entrepreneurship. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester and Paris. The firm’s advisory team has completed over 230 M&A and Capital transactions to date, working with category leaders including Essence, Avito, Delivery Hero, Fjord, King Digital Entertainment, Pingdom, Innogames, Spotify and many more. Through its principal investment team, GP Bullhound provides institutions, family offices and entrepreneurs with access to some of the most ambitious privately-held technology and media companies in Europe. The firm’s events and speaking activities bring together thousands of Europe’s leading digital entrepreneurs and technology investors throughout the year, and its thought-leading research is read by decision makers globally, and regularly cited in leading newspapers and publications. For more information, please visit www.gpbullhound.com, or follow on Twitter @GPBullhound

About Otto Group
The Otto Group is a globally active retail and retail-related services group, present in more than 30 countries with 123 major companies, and is one of the largest online retailers in the world. Otto Group’s activities are divided into three main business segments: Multichannel Retail, Financial Services and Services.

About RatePAY
RatePAY is a payment service provider offering local DACH payment methods with a payment guarantee for merchants. The company provides e-payment solutions to online shops, taking over the complete payment process for online merchants, while bearing the full risk of any default payments. The products offered by RatePAY include instalment payments, without any Postident procedure and including real-time online checks. Moreover, the company offers the online payment methods open invoice and direct debit. RatePAY is based in Berlin and was founded in December 2009.