PE firms buy Ratepay to merge it with Concardis

Private equity firms Advent International and Bain Capital are jointly acquiring Ratepay, the payments arm of German e-commerce company Otto Group.

The two firms intend to integrate the service with Concardis the payments company Advent and Bain acquired in January for a reported €700m.

Ratepay will maintain its brand and be managed as an independent company within the Concardis Group.

The private equity firms say the deal is the first step of their strategy to grow Concardis through acquisitions.

The Berlin-based company specialises in invoice payment processing for e-commerce business.

These include open invoices, instalments, direct debit, pre-payment and managing back-office processes, such as risk checks on purchasers and debtor management on behalf of merchants.

Bain Capital’s managing director Christophe Jacobs van Merlen said: “We have been following the German payment service market very closely for many years.

“Ratepay is unquestionably one of the best companies in its market segment. With this acquisition, we are broadening our product portfolio at Concardis and at the same time gaining additional important commercial expertise that we plan to exploit for further development.”

Advent’s managing director Jeff Paduch commented: “We see a major opportunity to create a first-class payment service provider in the retail sector.

“The acquisition of Ratepay is a step forward in our buy-and-build strategy to grow Concardis into a payment champion in the DACH region.”

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