Polish Movens Capital exits Fenige with a 4.5x return

Warsaw-based Movens Capital has announced an exit from Fenige, an early pre-seed investment, with a sound 4.5x cash-on-cash return. It’s the sixth successful exit of Movens Capital partners from tech investments.

• Fenige is a licensed National Payment Institution and one of the fastest-growing Central European fintechs. As a principal acquiring member of both Visa and Mastercard, Fenige is known for its secure and efficient payment solutions, exemplifying.
• In 2022, Fenige processed over 3 million transactions worth over €545 million (PLN 2.4 billion). Its year-on-year growth rate exceeded 70%, highlighting the commitment to its offerings including Card payouts, Card-2-Card payments, e-commerce acquiring, and in-house processing solutions.
• Movens Capital made its first investment in Fenige in 2017 during its pre-seed stage of development. Back then, the firm noted the innovative solution and exceptional leadership of key founders, Krzysztof Drzyzga and Marcin Kopy.

“Fenige revenues from transactions in 2022 significantly exceeded €11 million (PLN 50 million) which is stellar growth over the last 5 years. The road was bumpy but the team excelled and managed to successfully navigate all headwinds. Moreover current development proves the company still reaching very good results and assuming future plans upward trends of business outlook will be achieved in long run. We are very pleased with this investment and keep our fingers crossed for Fenige and its team in the future,”

Łukasz Pawłowski, a partner at Movens Capital, comments.

• As a result, the fund achieved a cash-on-cash 4.5x return from this investment, confirming that investments in technology companies have real high return potential for investors.
• The deal marks 6th successful exit for Movens Capital partners, contributing to a weighted return of over 9x.

Movens Fund II

Moving forward, based on the rapid growth of the Movens Fund 1 portfolio, Movens Capital has also decided to build Movens Fund II.

It will be a multi-stage fund (pre-seed, seed, Series A+). First Closing is planned for €35–40 million (€60 million is the target). The firm will invest in over 30 top technology startups in CEE (mainly from Poland, the Baltic States, the Czech Republic, Ukraine, and Romania). 

You can read more about Movens Capital and the future fund in our interview with Managing Partner Artur Banach and Principal Yaroslav Krempovych, here.