Tillhub

Transaction Summary

On June 16 2020, KKR announced a minority investment in Berlin headquartered startup Tillhub. Tillhub’s solution allows retailers to offer digital payment methods via an iPad. The parties have agreed not to disclose the scope of the participation.

Tillhub will complement KKR’s portfolio company Unzer in its omnichannel offering. Mirko Hüllemann, founder and CEO of Unzer Group, says: “We were intensively looking for a company with a modern and innovative PoS checkout system that consistently supports our omnichannel approach. With Tillhub we found exactly the right candidate. The software is flexible, well thought out and scalable – this also explains its success. The team and the three founders also perfectly fit with our spirit. I’m looking forward to Berlin.”

Tim Seithe, founder and managing director of Tillhub explains: “We are very pleased that Unzer Group has come on board as an investor. The conversations with the management of Unzer and with KKR convinced us. Now with the new resources we have the opportunity to grow even faster and to develop further solutions with the additional payment know-how. We look forward to working with you in the future. ”

With its all-in-one iPad cash register system, Tillhub enables retailers to offer their customers contactless EC and credit card payments. The system makes it possible to organize employees and customers via the app, to analyze sales in real time and to generate reports for the tax office. It also enables retailers to coordinate their merchandise management, has an online shop connection and synchronizes everything in the cloud. Tillhub also provides retailers with the necessary PoS hardware such as iPads, receipt printers and an in-house tablet stand. The company is based in Berlin and has around 60 employees.

Well-known customers of Tillhub are for example the KLIER HAIR GROUP GMBH – the largest hairdressing family in Europe with more than 1500 hairdressing salons in Germany and Fleurop AG with many thousands of affiliated florists.

Overview of Tillhub

Tillhub is an all-in-one iPad POS system for service providers and retailers. The system makes it possible to organize employees and customers via the app, to analyze sales in real time and to generate reports for the tax office. The scalable cloud solution combines the classic cash register function with digital accounting, intelligent merchandise management and e-commerce connection. Depending on the individual needs, such as a DATEV interface, customer and voucher management and inventory management, Tillhub offers the right solution for successful retailers. The Berlin company, which started in 2015, is managed by the founders Tim Seithe (CEO).

Corestar Partners’ Role

Corestar Partners acted as exclusive financial advisor to KKR on this strategic investment.

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.

It represents Corestar Partners’ 29th transaction in the European payment services sector (e.g. Borgun [Iceland], Sipay [Spain], heidelpay [Germany], Vibbek [Switzerland], mPAY24 [Austria], PCS [Germany], Simplepay [Germany], HiPay [France], Concardis [Germany], Sofort [Germany], Klarna [Sweden], etc.).