Buckaroo, a Utrecht-based online payment service provider, announced on Monday that it has agreed to acquire SEPAY, The Hague-based point-of-sale payment service provider.
The majority of the stake was acquired with the support of Keensight Capital, a private equity firm focused on pan-European Growth Buyout investments and the majority investor in Buckaroo. The announcement comes more than a year after acquiring payment service provider Sisow in December, 2021.
Completion of the acquisition is subject to customary closing conditions and regulatory approval.
Why this acquisition?
Buckaroo sees this acquisition as a strategic move to strengthen its position in the SME market and its offering with an omnichannel payment solution, both to their respective clients and new customers.
The combined group will serve 27,000 customers and process €10B in transaction volume.
“With this acquisition, Keensight Capital demonstrates its continued support for Buckaroo’s growth strategy. This acquisition once again demonstrates the company’s ability to act as a natural consolidator in the PSP market. The strong complementarity of Buckaroo and SEPAY will enable it to further position the Group as the leading player in the entire payments market and enable customers to benefit from market-oriented payment solutions through a single provider. We look forward to continuing to support Buckaroo in its scaling-up, broadening of its offering, and increasing their geographic reach,” sayss Stanislas de Tinguy, Partner at Keensight Capital.
SEPAY: What you need to know
Founded in 2005, SEPAY is a payment provider specialising in POS payment solutions in the Benelux.
SEPAY serves its customers with transaction services, debit and credit transactions, leasing, buying, or short-term rental of both mobile and fixed ATMs, and taking care of the complete processing of these transactions.
At present, the company has 13,500 customers, 18,000 payment terminals, and 25,000 contracts, including contracts for transaction services without a terminal.
The company’s revenue model is primarily subscription and transaction-based.
Tamás Fogl and Herman Roebersen, Owners and Directors of SEPAY, says, ” We are more than excited to be part of the Buckaroo Group. As a highly efficient acquirer in the offline payment industry, we saw many very positive opportunities and synergies through the forces with a strong e-commerce PSP like Buckaroo. We are very committed to the future success of this mix of parties and look forward to working with Paul and his team in the future.”
Buckaroo: What you need to know
Buckaroo is a provider of payment solutions in the Netherlands, specialising in offering next-gen payment gateways, subscription services, and credit management for merchants. More than 14,000 companies in different verticals use Buckaroo’s payment technology and value-added solutions.
“We are very pleased with the arrival of SEPAY to Buckaroo. The e-commerce landscape is growing rapidly and requires a complete payment solution. The combination of Buckaroo and SEPAY ensures a competitive position in the payment market with an omnichannel payment solution, which also includes in-store enabled payments across Europe, ensuring that companies, with both local and international ambitions, get paid everywhere,” says Paul Scholten, CEO of Buckaroo.
