Clipperton has acted as sole financial advisor to givve and its shareholders.
- The Munich-based specialist for financial services for employee benefits will be integrated into the French company Up group.
- With this transaction, Clipperton demonstrates once again its capacity to accompany its clients in their cross-border operations.
- The transaction follows a series of transforming M&A deals announced by Clipperton since January 2018 including the acquisition of Cheers by CEWE [CWC.F], the acquisition of Cardoen by Aramisauto, the sale of Foodcheri to Sodexo [SW.PA] and the sale of Quitoque to Carrefour Group [CA.PA].
Berlin – July 2018 – European corporate finance firm Clipperton is pleased to announce that it acted as sole financial advisor to givve’s management and shareholders in its sale to Up group, a leading player offering loyalty programs, incentive and payment solutions, among other things.
givve was venture-backed by Redalpine, whose other Fintech investments include the likes of N26, and prominent business angels, including former Gruner+Jahr board member Dr. Torsten-Jörn Klein and serial executive Andreas Berninger.
The acquisition makes givve part of an international company, that is already active in 19 countries on four continents, with more than 3,400 employees and 494 million euros sales in 2017. In this context, the Fintech’s innovative technology has much greater development opportunities in the field of financial services. Through this acquisition, Up group is strengthening its market position in Germany.
givve is already established in the market of employee benefits in Germany: More than 6,000 corporations use givve-Cards. These cards are used like prepaid cards with which employers can reward their employees and also use tax advantages for employee benefits in Germany. There are already more than 250,000 givve-card users in Germany.
Patrick Löffler, givve Co-Founder and CEO commented: “We could not think of a better strategic investor than the Up group. They not only understand our business area very well, they are also active in many more business areas than we are. givve will benefit greatly from this large network and the expertise available. Clipperton’s extensive knowledge and global relationship network in the Digital Services and
Fintech sectors proved invaluable in helping us find the right partner in Up group. They have been a great advisory partner and it was a pleasure to benefit from their guidance throughout this successful process.”
Stéphane Valorge, Managing Partner at Clipperton said: “Having known and followed the team of givve for years made the transaction particularly significant for us to advise on. We believe there is a great fit between the businesses and that being a part of the Up group will accelerate givve’s growth still further.”
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Clipperton is a European independent corporate finance advisory firm exclusively dedicated to the Technology space, advising high growth companies on M&A transactions, debt financings and equity offerings. With offices in London, Berlin, and Paris and an international reach, Clipperton is a European leader in Technology financial advisory. Over the past 15 years, the team has successfully completed more than 250 high profile transactions globally. For more information, visit www.clipperton.net