GB & Partners invests in fintech to propel CEE region
GB & Partners Investment Management Ltd. marked September with a 6 million Euro investment to further expand its fintech portfolio, advancing EXIM Cross-border Fund to take majority ownership of DiPocket Ltd. The financial service provider’s excellence pinpoints to its custom-made, quick and trustworthy technological operations that are backed by an internationally experienced management. DiPocket is looking forward to utilising the invested capital in developing additional innovative services, in expanding its Central-Eastern European clientele and region specific know-how.
DiPocket, registered as well as licensed in the UK and holding an e-money licence (while it has also recently received an e-money license in Lithuania (https://investlithuania.com/news/uk-fintech-dipocket-establishes-cee-base-in-lithuania/) enabling it to continue serving its clients across Europe after BREXIT), is the newest member of EXIM Cross-border Fund’s portfolio that is managed by GB & Partners Investment Management. GB & Partners’ continuous professional support will fast track DiPocket to become a dominant B2B financial service provider in the CEE region. The company’s visionary founders (Fedele DiMaggio and Pavel Pokhylchenko), its 1,5 million EUR sales revenue of 2019, its international operations in more than 10 countries and its stable cooperation with Mastercard® since their founding in 2015 provide ample justification for the fund manager’s confidence. The mission of GB & Partners,with its 100% holding company, Tomahawk Ltd. (the direct shareholder in DiPocket) is to bring unparalleled professional talents under one roof by uniting its fintech companies in a logically architected, extensive and diverse portfolio.
The fund manager sees the unique peculiarities of the multi-currency, multilingual region as an exceptional economic opportunity. DiPocket’s unique technical and IT capabilities coupled with the convenience of domestic IT knowledge and capacities, explain why Hungary could prove to play a key role (in addition to the Lithuanian center) in the region’s digital financial market. DiPocket offers a unique occasion according to its previous accomplishments and present competence.
“Coupling financial muscle with relevant industry expertise and a strong business network in our core Region, GB & Partners is the springboard we had been looking for to propel DiPocket into its next stage of development” – said Fedele Di Maggio, co-founder and CEO of DiPocket.
„The ambition of GB & Partners is not only to enter the regional, but also the wider European fintech picture. We would like to see DiPocket in an even more advantageously competitive situation and we will work on accelerating it to a track of exponential growth, backed by Hungarian expertise. Not only do we provide capital support and structural assistance, but also hire proven to be successful professionals like Márton Báti and Ádám Farkas through the management of Tomahawk” – explained Gábor Bürchner, chief investment officer of GB & Partners.
In contrast to the operational patterns of Revolut or Transferwise that are already established in the region and are very much focusing on serving the end-user, DiPocket puts the emphasis on the very custom needs of its corporate clients who choose to form the brand experience for their customers in accordance with their own cashless financial service needs. Among others, such as payment solutions for festivals or gift cards for shopping centers in the form of branded physical or digital Mastercard® cards. In addition to its product packages DiPocket also develops ancillary solutions like custom-made automated services, such as syncing invoicing with bookkeeping whilst communicating in real-time with the bank. Particularly effective for both large corporate clients and SMEs. These even more efficiently designed proceedings open up new horizons for companies at large.
„The flexible, trustworthy and innovative financial solutions of DiPocket are able to help Hungarian companies enter international markets, and also to strengthen their domestic positions” – continued Gábor Bürchner.
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For press information –
GB & Partners: Edina Bugár, [email protected]
DiPocket is a pre-paid tech B2B2C provider offering turnkey white labelled payments solutions ranging from financial apps for loyalty and customer acquisition, to physical and virtual gift cards, to cards for disbursements (e.g. loans, gig economy, employee benefits) to wearables for cashless events. A principal member of Mastercard® ,DiPocket offers tokenizable cards in most European currencies.
For more information: https://dipocket.org/
About GB & Partners
GB & Partners is one of the largest Hungarian independent private equity and venture capital fund management firm in terms of assets under management. In 2019, the firm was granted a full membership of Invest Europe – the world’s largest association of private capital providers – and was the first Hungarian venture capital investment firm to receive that honour. Based on the experience gained in different industrial sectors in recent years, GB & Partner has become a specialist of certain industries, building groups of portfolio companies, thus utilising synergies and already accumulated professional experience. These sectors include:
- Fashion industry and related services
- Smart City related projects
- FinTech sector
- Medical technologies and supporting industries
- Mechanical Engineering
For more information: https://gbpim.com/en/
About EXIM Cross-border Fund
The mission of the EXIM Cross-border Fund investor is to boost the Hungarian private equity market. Through fund manager GB & Partners, the fund supports and primarily invests in Hungarian companies with significant international growth potential.
For more information: https://gbpim.com/en/investments-funds/funds/exim-exportosztonzo-magantokealap