Innova Capital acquires majority stake in Romania’s NETOPIA Group
Innova Capital, a leading private equity firm in Central and Eastern Europe, has announced the acquisition of the majority stake in NETOPIA Group, a Romanian payment services provider. The deal will allow the fund to expand its presence in the local financial services market. The amount of the deal is not disclosed.
- Innova Capital was established in 1994 with the objective of investing in controlling stakes of mid-sized companies in the CEE region. The firm is currently based in Warsaw, Poland and has 134 investments, with total value of €1.4 billion, in its portfolio.
- NETOPIA Group is the newest addition to the portfolio. It is one of the longest-established payment service providers (PSP) in Romania, which plays a key role in the local online payments market since 2003. The company currently provides services to more than 25,000 merchants and is responsible for processing 25% of the country’s online card transactions.
“NETOPIA Group has consistently demonstrated its commitment to innovation, driving advancements in digital payments and mobile marketing. With the help of this investment and Innova’s knowledge, we look forward to leveraging our extensive expertise to pioneer groundbreaking solutions in the evolving landscape of the payment industry,”Antonio Eram, co-founder and CEO NETOPIA Group, comments.
- The acquisition of the majority stake in NETOPIA Group is the first deal to be executed within the framework of the Innova/7 fund. The first close of which was announced in August 2022 with a result exceeding €220 million.
- The transaction will be completed after obtaining the approvals from the relevant authorities.