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Nets completes acquisition of Polish online payment service providers Dotpay/eCard

Press release

​All relevant regulatory authorities have approved Nets’ acquisition of Polish online payment service providers Dotpay/eCard. Expanding into Poland further strengthens the Group’s European presence and opens new opportunities

  • All relevant regulatory authorities have approved Nets' acquisition of Polish online payment service providers Dotpay/eCard
  • Expanding into Poland, the sixth largest country in EU with high growth in digital payments, further strengthens the Group's European presence and opens new opportunities
  • Dotpay/eCard's customers will benefit from a broader portfolio of state-of-the-art eCommerce solutions and innovative new products


Ballerup, Denmark, and Warsaw/Cracow, Poland – 4 January 2019. Nets, a market leader in the payments industry, has today announced the completion of the acquisition of leading Polish online payment service providers Dotpay/eCard. Andrzej Budzik will continue as CEO of Dotpay/eCard and the brands of Dotpay and eCard will remain.


With this acquisition Nets gains access to the sixth largest country in EU by inhabitants with a growing economy and eCommerce volumes. Poland also has high growth potential through cash to digital payments conversion, which is well supported by governmental cashless initiatives.


CEO of Nets, Bo Nilsson, said: "With the acquisition of Dotpay/eCard we extend our presence in Europe and get access to new opportunities in Poland which is a high growth market, especially within the merchant services area. We aim to continue the strong development Dotpay/eCard have experienced in recent years through both investments into organic growth and further consolidation."


Nets and Dotpay/eCard have a highly complementary strategic fit. With a comprehensive product suite, primarily within eCommerce, Dotpay/eCard complement Nets very well, and both Nets and Dotpay/eCard will benefit from increased industrial scale and synergies e.g. through joint innovation.


CEO of Dotpay/eCard, Andrzej Budzik, commented: "We look forward to pursuing joint opportunities and further strengthening our service offerings to merchants. As part of the Nets Group we will be able to drive faster time to market of state-of-the-art solutions, underlining our ambition to be at the forefront of innovation."


Investment Partner at MCI, Łukasz Wierdak, said: "We are very pleased to have finalized the exit process. Dotpay/eCard have developed tremendously over the past years and now, with Nets being a strategic investor, the future looks very promising for the group. This was a very successful investment for MCI generating 3.0x CoC and almost 40% IRR over a 3-year investment period. We are continuously looking to support companies from digital economy in their dynamic development. I would like to thank the management board for the fruitful cooperation and wish the Dotpay/eCard and Nets teams lots of success for the future".


Dotpay/eCard employ about 80 people and reported gross revenues of over EUR 12 million in 2017.


Media contacts – Nets
Søren Winge
Head of Press Relations
T.: +45 29 48 26 46

Media contacts – MCI Capital
Bartosz Sawulski
Marketing and Corporate Communications Director
T.: +48.694.400.787


About Nets

At Nets, we see easier products and solutions as the foundation for growth and progress – both in commerce and society. With 2,400 employees located in Denmark, Norway, Finland, Sweden and Estonia, we help financial institutions, businesses and merchants across the Nordic and Baltic regions make tomorrow a little easier for their customers while delivering unrivalled security and stability. Powering a tomorrow that's easier than today. This is what drives us.


About Dotpay/eCard

Dotpay and eCard are both Polish payment institutions jointly forming a leading one-stop shop for e-payment solutions in Poland by combining the capabilities of a licensed card acquirer and a payment service provider which offer merchants comprehensive, omni-channel payment solutions tailored to the most demanding business processes. With 15 years of experience and about 80 employees located in Warsaw and Cracow, we service over 30,000 merchants in all e-payment segments.

About MCI Capital

MCI Capital, founded in 1999 in Warsaw, Poland, is one of the most dynamic private equity groups in Emerging Europe focused on digital transformation. Currently, with the use of Private Equity / Venture Capital funds, MCI implements growth stage and expansion/buy-out stage investments in CEE Region, Germany and Austria (DACH). MCI Capital is also active in the field of private debt.

The assets under management of around PLN 2,3 Bn (USD 600 M) are dedicated to fintech, e-commerce and IT infrastructure. Latest significant milestones included exit from iZettle to Paypal, sale of CEE e-travel champion Invia, and purchase of insurtech leader in Hungary – Netrisk.