MUNICH, STARNBERG & LONDON--()--Masterpayment further accelerates its rapid growth and impressive success with an investment by a distinguished Abu Dhabi-based Investment Group who is now Masterpayment's largest individual shareholder, basing their investment decision on the company's valuation at a mid-range eight-figure sum. The investment is aimed at taking growth at the e-payment specialist to a new level, primarily by focusing on enhancing Masterpayment's international profile and expanding its product portfolio.
Masterpayment is currently one of Europe's fastest-growing payment businesses, and supplies online retailers with intelligent APIs and pre-integrated payment modules as near-instantaneous integration options for their diverse shop systems. The young company's streetpay product is the first smartphone-enabled payment service to hit the German market. Over 11,000 retailers signed up for the service within just a few months of its launch. The figures also confirm this success: Q3 2012 saw the company achieve its best ever quarterly results, experiencing 200-percent quarter-on-quarter growth. At present, Masterpayment's sales are doubling every second month, so it's little wonder that the e-payment specialist with offices in Munich/Starnberg and London is also attracting the attention of prestigious international investors.
'We are very selective in pursuing our investment strategy. We undertook a comprehensive review of the market and identified Masterpayment as the pioneer and innovation leader in the field of e-commerce and mobile payment solutions. The company's business model is flexible, and international markets in particular are in urgent need of services of this nature. As a result, we anticipate high growth rates due to expansion in the UK, the Middle East, India and other Asian countries. We are therefore very pleased with our investment in Masterpayment and await future developments with confidence and optimism', said the CEO of the new Masterpayment shareholder.
'To us at Masterpayment, this investment represents an outstanding opportunity for the company. It is an exceptional honour for us to have won the support of one of the world's most respected and financially most powerful investors,' said Stefan Tittel, CEO of Masterpayment. 'This is an extremely significant step for us. Although we are expanding rapidly and our sales are growing in leaps and bounds, markets outside Germany possess the most potential for our business model. This new investment gives us the resources we need to expand on an international level, and we are looking forward to the challenge of winning markets outside Germany in the near future.'
Supervisory board chairman Danyon Lloyd explains: 'Masterpayment has the potential to play alongside the big names in the payment solutions sector. It is my firm belief that Masterpayment will continue to extend its lead in Europe over US-based companies such as Stripe, Groupon and SquareUp, which are likely to move into European markets in the future. Masterpayment will stand out from its competitors by the impressive scalability of its business model, its mature IT platform, the team's e-payment expertise and ability to address the highly varied regulatory landscape in Europe.'
Masterpayment (www.masterpayment.com) was founded in 2010 and maintains offices in London, Starnberg (near Munich) and Cracow.
Masterpayment provides e-commerce payment services of outstanding quality and belongs to the fastest growing payment businesses. The company's objective is to use a high-performance IT platform to provide even small retailers and shop owners with the best possible service which includes all payment options and innovative additional features/tailored solutions at highly competitive prices. Masterpayment is the only service provider on the market that does not charge monthly fees, connection costs, minimum contract periods or similar practices. Some 2,300 e-commerce retailers have already placed their trust in Masterpayment's business concept and signed up for the company's service; a further 5 companies join the firm's network every day.
On the German market, Masterpayment was the first service provider to facilitate card reader-based payment solutions for smartphones. This service enables smaller local and mobile businesses to accept credit cards as payment regardless of constraints in relation to time and place. With around 12.000 registered merchants Masterpayment is considered to be the market leader in Central Europe. Further information is available at www.streetpay.com.