|GP||MCI Capital||GROWTH||+145% payment volume|
|INVESTMENT||EUR 20.2 million|
|SECTOR||E-payment services||INVESTMENT TYPE||Buyout and growth|
|INVESTMENT||March 2016||FUND OWNERSHIP||87%|
|EXIT||January 2019||EXIT ROUTE||Trade sale|
As an active investor in the e-commerce sector, MCI sought opportunities in the growing online payment solutions market. MCI made parallel investments in two complementary Polish e-payment service providers: eCard, the 2nd largest online card acquirer serving large merchants, and Dotpay, the 3rd largest online payment service provider. The merged entity, Dotcard, became Poland’s first provider of omni-channel payment solutions.
Deal history and structure
MCI invested in publicly listed eCard and reached a 51% stake after a squeeze-out of minority investors, delisting and a capital increase. In parallel, MCI acquired Dotpay’s owner, Mobiltek Group. Dotpay was subsequently acquired by eCard to create the Dotcard merged entity. The above transactions included a EUR 17 million purchase of existing shares and a EUR 3.2 million capital increase by MCI plus bank leverage.
The report offers an in-depth study of private equity’s role in innovation and economic development across Central and Eastern Europe through detailed case studies of companies backed by private equity investors during 2015-2019.
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