LAVEGO

Transaction Summary

• myPOS has entered into an agreement to acquire LAVEGO AG, a Munich-based fintech company specialising in Girocard acceptance and secure payment solutions. This acquisition, pending regulatory approvals and other customary closing conditions, is a key step in strengthening myPOS’ presence in the German market and expanding its ability to offer innovative payment solutions to local businesses.
• By integrating LAVEGO AG’s advanced technology and infrastructure, myPOS aims to provide more comprehensive services to meet the growing needs of SMEs. This acquisition expands myPOS’ ability to serve German businesses, especially those that rely on Girocard transactions – one of the most widely used debit card systems in Germany. myPOS looks forward to finalising the acquisition and working together to introduce new products for the German market in the future.
• “Germany is one of the most important payment markets in Europe. This acquisition is an important milestone in our journey to offer innovative payment solutions tailored to the needs of SMEs in Germany. By combining LAVEGO’s technology with our expertise, we want to offer our customers unparalleled added value,” explains Mario Shiliashki, CEO of myPOS.
• LAVEGO CEO Florian Gohlke also sees enormous opportunities in the German market: “I am delighted that myPOS and LAVEGO will continue to work together on simple and secure payment solutions in the future. This will enable us to further expand our offering for merchants and business customers and actively shape the digitalization of the German payment market.” On the sale process Florian Gohlke added: “Ensure Corestar is on your side when selling your business!”

Overview of LAVEGO

• LAVEGO is a Munich-based fintech company specialising in Girocard acceptance and secure payment solutions authorized by Germany’s Federal Financial Supervisory Authority (BaFin). Since 2003, LAVEGO has been predominantly operating in technically challenging niche markets, such as petrol stations and vending machines.
• All of the systems employed to process transactions have been developed in-house and are based on the latest technology. Alongside pure clearing of payment transactions, LAVEGO also offers a whole host of additional services, which are used both by partners and customers.

Overview of myPOS

• Headquartered in the UK, with over 500 employees, myPOS provides a suite of payments, accounts and cards solutions for small merchants and sole traders. Through its product offerings, it sits at the centre of small and micro merchants’ financial flows and is a key partner in allowing them to grow and develop their businesses.
• The business serves around 170,000 merchants in continental Europe across multiple sectors – including food & beverages, professional services, retail and transportation.
• myPOS is a portfolio company of Advent International, one of the largest and most experienced global private equity investors. The firm has invested in over 415 private equity investments across 42 countries, and as of June 30, 2023, had €85 billion in assets under management.

Corestar Partners’ Role

• Corestar Partners acted as exclusive financial advisor to LAVEGO and its shareholders on this strategic transaction.
• This transaction underlines Corestar Partners’ #1 position as Europe’s undisputed M&A advisory market leader in the payment service sector and furthermore highlights Corestar Partners leading position in European Fintech M&A.
• The sale of LAVEGO to myPOS represents Corestar Partners’ 40th transaction in the European Fintech sector. The long list includes advisory mandates to wallee, Payrexx, Datatrans, Clearhaus, QuickPay, 3DSecure, Paysafe Group, Borgun, Sipay, Heidelpay, Vibbek, mPAY24, PCS, Simplepay, HiPay, Concardis, Sofort, and Klarna, among others.