AEVI, a provider of global payment transactions and a marketplace for B2B apps and services, has completed its EUR30 million capital increase by securing a EUR10 million investment from Adveq, a global private equity investor.
The co-investment was made alongside Dutch investor HPE Growth Capital, which provided the initial tranche of EUR 20 million in May 2016. At that point of time a second tranche was already agreed with HPE.
The total investment of EUR 30 million will fund further growth and international expansion.
AEVI, which belongs to Diebold Nixdorf, was carved out of the group as an independent company at the start of the financial year in October 2015.
Adveq’s investment will be used to further develop its portfolio, including products such as AEVI‘s Marketplace, which is a white-label B2B App Store, and expanding the company’s presence globally.
Reinhard Rabenstein, managing director at AEVI, says: “Adveq’s investment is a testament to our work so far and the potential of our business to grow. We are looking forward to taking AEVI to the next stage of its development and becoming a global leader in the dynamic sector of cashless payments.”
Richard Damming, executive director at Adveq, says: “We have a longstanding relationship with HPE Growth Capital and are excited to support an innovative and successful company like AEVI in its further growth in a very promising market.”
Diebold Nixdorf intends to retain a majority holding in AEVI in the long term, alongside the new investors.
