100 million deal: Gastro startup Orderbird fully taken over
The Berlin iPad POS system is sold to Italy. A former shareholder also grabs the remaining shares in Orderbird.
After exit: CEO Mark Schoen (l.) and founder as well as CSO Jakob Schreyer remain in the management team of their startup Orderbird.
"If it's up to us, we'll remain independent for the next few years and continue to grow, rather than selling too early," said Orderbird co-founder Jakob Schreyer in an interview with the Gründerszene a year ago. Before that, there were repeated sales rumors that Schreyer was looking for new owners for his fintech. At the end of 2020, Orderbird distributed profits for the first time and the sales figures of its mobile POS systems for restaurateurs, retailers and hairdressers climbed into three-digit heights every month. Nevertheless: Today the startup announces that the Danish payment provider Nets will become a 100% shareholder in Orderbird.
Nets, a subsidiary of the Italian payment giant Nexi Group, had previously invested in the Berlin fintech. The early participation of around 20 percent was initially via the Eschborn-based financial service provider Concardis, which Nets bought in 2018 and thus took over its Orderbird shares. Last fall, Nets increased its stake and received a total of 40 percent of the shares in Orderbird. According to information from Finance Forward, Nets took over the shares from previous shareholders without giving fresh capital to Orderbird.
Now follows the complete takeover of the startup. The Berliners do not reveal the exact purchase price. The press release states that a total of around 100 million euros flowed, whereby the sum “also includes previous share purchases”. Industry experts assume that Orderbird was valued at around 140 million euros in the deal. Among the investors who are now selling their shares is Carsten Maschmeyer's fund Alstin, for whom Orderbird is one of the first investments ever. In addition, the retail chain Metro, the growth investor Digital+ Partners, the family office Makre and some business angels also held shares in the fintech.
The fintech will continue to exist as an independent business unit under the Orderbird brand. The management around CEO Mark Schoen and CSO Jakob Schreyer should also remain in its current form. With the exit, the Berliners hope to further expand their software solution for payment transactions and to promote their international growth. Orderbird should become better known, especially in the European market. So far, the Berliners have been active in German-speaking countries and France.
Schreyer founded the payment startup Orderbird in 2011 together with Artur Hasselbach, Bastian Schmidtke and Patrick Brienen-Lucius. They offer restaurants, cafés, bars, hairdressers and retailers mobile checkout systems that can be used to take and bill orders via tablet or smartphone. At the same time, the system transmits the transactions digitally and correctly to the tax office. The startup currently employs more than 120 people at its locations in Berlin and Vienna.
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