+++ Press release +++
The Payments Group obtains e-money license
Frankfurt/Main, 4 September 2024 – Calida Financial Ltd., a Malta-based internet payment service provider, in which The Payments Group Holding (“PGH”), currently still trading as SGT German Private Equity and based in Frankfurt am Main, acquired a majority stake (indirectly) on 13 August 2024, as well as in other payment service providers, has received an e-money license from the Maltese Financial Services Authority (MFSA). This license entitles Calida Financial Ltd. to offer innovative e-money services and products throughout Europe. The license will now be activated in all EU member states as part of the passporting process. Seth Iorio, Managing Director and founder of Funanga AG and designated Managing Director of The Payments Group Holding, and Jens Bader, CEO of Calida Financial Ltd., expect this development to lead to a significant increase in sales for the payment service providers operating under the brand ‘The Payments Group’.
Jens Bader, CEO of Calida Financial Ltd., commented: “The process of obtaining an e-money license is extremely demanding and requires the establishment and maintenance of comprehensive structures and processes for the operation of a financial institution. Our team in Malta is proud and relieved to have reached this milestone. This opens up numerous new opportunities that many of our clients have been eagerly waiting for. This development significantly strengthens our competitive position and accelerates our growth.”
About The Payments Group Holding
The Payments Group Holding (PGH) is an investment holding based in Frankfurt/Main founded in 2012 and renamed in August 2024.
In August 2024, PGH signed a share purchase agreement for the acquisition of four PayTech companies, the closing of which is subject to conditions precedent that are expected to be fulfilled in the coming months. Following completion of the transaction, PGH will form a group of four operating PayTech companies:
Funanga AG, Campamocha Ltd with its 100%-owned subsidiaries TBWS Ltd and Calida Financial Ltd as well as Surfer Rosa Ltd form a fast-growing, vertically integrated e-Money PayTech group of companies – The Payments Group (TPG). TPG provides proprietary closed and open (branded and white-labelled) prepaid payment services to hundreds of online merchants worldwide. The synergy between these companies positions TPG as the future market leader in embedded financial products and prepaid solutions. Calida Financial Ltd. is the regulated company within TPG, having received an e-money license from the Malta Financial Services Authority (MFSA) in August 2024. This license entitles Calida Financial Ltd. to offer innovative e-money services and products across Europe.
TPG employs over 50 people and operates globally. TPG’s customers make use of more than 550,000 POS cash payment points and the global online prepaid card network to process cash and cashless online payments.
Furthermore, The Payments Group Holding holds from its history as a leading German venture capital provider under the German Startups Group brand a heritage VC-portfolio of minority stakes in partly promising German startups via its wholly owned subsidiary German Startups Group VC GmbH.
Investor Relations Kontakt
Rosenberg Strategic Communications
Dirk Schmitt
[email protected]
+49 170 302 8833
More information at https://tpgholding.com and https://www.payments-group.com/