DGAP-News
FinTech Group AG: SafeCharge is taking a strategic stake of 5% in FinTech Group
DGAP-News: FinTech Group AG / Key word(s): Capital Increase/Investment
FinTech Group AG: SafeCharge is taking a strategic stake of 5% in
FinTech Group
03.06.2015 / 08:00
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/ Quasi Ad-Hoc / Frankfurt, 3 June 2015
SafeCharge is taking a strategic stake of 5% in FinTech Group
- Capital increase raises more than EUR 10m
- Investments underpins planned strategic cooperation
FinTech Group AG (WKN 524 960, ISIN: DE0005249601, FLA.GR) and SafeCharge
International Group Limited have signed an agreement to form a strategic
partnership with the aim to offer SafeCharge's clients comprehensive
banking services including banking transaction services, mobile payments
and debit cards.
To underpin the strategic partnership, SafeCharge will take a 5% stake in
FinTech Group AG with the option to increase the stake. Therefore the
Advisory Board and the Executive Board of FinTech Group have approved a
capital increase of 810,000 new shares at EUR 12,45/share. Total proceeds
are EUR 10,084,500. The new shares will be issued from the company's
authorized capital without subscription rights for existing shareholders
and without prospectus and correspond to 5% of the company's registered
capital ("post-money"). The proceeds will be primarily used to bolster
FinTech Group's equity and make it ready for further growth and potential
acquisitions.
Frank Niehage, Chief Executive Officer of FinTech Group, explains:
"Based on our technology expertise and our regulatory platform we will be
able to help SafeCharge to jumpstart new business lines by offering their
retail and corporate customers European-wide comprehensive banking
services. Our subsidiary XCOM is one of the leading technology providers
for banks and financial institutions and XCOM's subsidiary biw bank is the
outsourcing and white label banking partner of choice for many German banks
as well as for many upcoming fintech startups."
David Avgi, Chief Executive Officer of SafeCharge, said:
"Safecharge's portfolio of services and products has been enhanced by the
strategic partnership with FinTech Group. The partnership marks another
step in our strategy to create a new generation of financial services and
payments for a global customer base. The business we are building is
expanding into new geographies, market verticals and services, increasing
/ Quasi Ad-Hoc / Frankfurt, 3 June 2015
SafeCharge is taking a strategic stake of 5% in FinTech Group
- Capital increase raises more than EUR 10m
- Investments underpins planned strategic cooperation
FinTech Group AG (WKN 524 960, ISIN: DE0005249601, FLA.GR) and SafeCharge
International Group Limited have signed an agreement to form a strategic
partnership with the aim to offer SafeCharge's clients comprehensive
banking services including banking transaction services, mobile payments
and debit cards.
To underpin the strategic partnership, SafeCharge will take a 5% stake in
FinTech Group AG with the option to increase the stake. Therefore the
Advisory Board and the Executive Board of FinTech Group have approved a
capital increase of 810,000 new shares at EUR 12,45/share. Total proceeds
are EUR 10,084,500. The new shares will be issued from the company's
authorized capital without subscription rights for existing shareholders
and without prospectus and correspond to 5% of the company's registered
capital ("post-money"). The proceeds will be primarily used to bolster
FinTech Group's equity and make it ready for further growth and potential
acquisitions.
Frank Niehage, Chief Executive Officer of FinTech Group, explains:
"Based on our technology expertise and our regulatory platform we will be
able to help SafeCharge to jumpstart new business lines by offering their
retail and corporate customers European-wide comprehensive banking
services. Our subsidiary XCOM is one of the leading technology providers
for banks and financial institutions and XCOM's subsidiary biw bank is the
outsourcing and white label banking partner of choice for many German banks
as well as for many upcoming fintech startups."
David Avgi, Chief Executive Officer of SafeCharge, said:
"Safecharge's portfolio of services and products has been enhanced by the
strategic partnership with FinTech Group. The partnership marks another
step in our strategy to create a new generation of financial services and
payments for a global customer base. The business we are building is
expanding into new geographies, market verticals and services, increasing