PAYCOMET
Founded Year
2010Stage
Corporate Majority | AcquiredValuation
$0000About PAYCOMET
PAYCOMET is a technology company developing an omnichannel payment platform that helps companies to sell and collect products and services worldwide. It offers services and solutions, such as payment gateway, virtual POS (point of sale), IVR (interactive voice response), card tokenization for hotel reservations, escrow for online platforms as well as tools for fraud management. The company was founded in 2010 and is based in Madrid, Spain. In February 2023, Nexi acquired a majority stake in PAYCOMET for $296.43M.
Missing: PAYCOMET's Product Demo & Case Studies
Promote your product offering to tech buyers.
Reach 1000s of buyers who use CB Insights to identify vendors, demo products, and make purchasing decisions.
Missing: PAYCOMET's Product & Differentiators
Don’t let your products get skipped. Buyers use our vendor rankings to shortlist companies and drive requests for proposals (RFPs).
Research containing PAYCOMET
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned PAYCOMET in 1 CB Insights research brief, most recently on Apr 18, 2023.
Expert Collections containing PAYCOMET
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
PAYCOMET is included in 1 Expert Collection, including Payments.
Payments
2,682 items
Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.
Latest PAYCOMET News
Feb 28, 2023
Nexi to buy Banco Sabadell’s payments arm The deal is anticipated to be completed by the fourth quarter of this year. Italian digital payments firm Nexi has reached a deal to purchase Spanish bank Banco Sabadell’s payments subsidiary, Paycomet. As part of the deal, Nexi will buy 80% of Paycomet for €280m in cash, reflecting an enterprise value of €350m for the entire deal. The total value of the deal could go up based on the achievement of objectives. Banco Sabadell will continue to hold the remaining 20% stake in Paycomet for at least three years, after which the bank will have an option to divest the stake. The deal, which awaits necessary corporate and regulatory approvals, is anticipated to be completed by the fourth quarter of this year. Once closed, Nexi will be able to add more than 380,000 merchants and handle around €48bn worth of transactions. Acquisition of the business is set to yield a earnings before interest, taxes, depreciation, and amortisation (EBITDA) of nearly €30m based on 2023 data. The deal also helps Nexi to fulfil its strategic vision, boost its presence in Europe as well as further strengthen its merchant acquiring business and increase revenue diversification measures. Besides, both Nexi and Banco Sabadell have entered into a long-term exclusive distribution alliance that includes an initial period of ten years along with two possible renewals of five years each. Nexi CEO Paolo Bertoluzzo said: “With this partnership, we enter Spain from a strong position, a market that we have always considered highly attractive for digital payments with great potential for further profitable and sustainable long-term growth, quite similar to Italy. “This initiative, that expands our growth opportunities further, is a very important step ahead in our strategy as leading European PayTech combining at best European scale with market and customer proximity.” The latest acquisition comes shortly after Nexi announced a share buyback programme . Share this article
PAYCOMET Frequently Asked Questions (FAQ)
When was PAYCOMET founded?
PAYCOMET was founded in 2010.
Where is PAYCOMET's headquarters?
PAYCOMET's headquarters is located at Calle Camino de Valladolid, 2, Madrid.
What is PAYCOMET's latest funding round?
PAYCOMET's latest funding round is Corporate Majority.
Who are the investors of PAYCOMET?
Investors of PAYCOMET include Nexi.
Discover the right solution for your team
The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.