The online payment trailblazer Paytrail announced a new Paytrail account service last summer. The new service opens up the way to international markets, to support which the company decided on a successful 800,000 euros share issue. The company strengthened its internationalisation strategy with the share issue, in which twenty investors invested in the company, the largest of which was the Midinvest Ltd fund managed by Midinvest Management Ltd.
The Paytrail account makes it possible to buy on the web with one click and a single set of credentials, in any usage context, more easily and conveniently than ever before. The service has been enthusiastically received in the domestic market and co-operative partners in different countries expect adoption of the service to expand into their own markets. The funds acquired will be used for the international expansion of Paytrail account, international partnerships and accelerating the rate of the company’s growth.
Both current and new investors took part in the share issue. Altogether, over 800,000 euros of share purchases were made. The largest investor was the Central Finland-based capital investment firm Midinvest ltd, which will in the future bring its expertise to the company as a member of its board. Paytrail Plc has accrued a total of around 1,700,000 euros through share issues since starting operations.
“The unique and pleasant purchase experience offered by the Paytrail account has also convinced investors,” Paytrail’s CEO, Markus Laurio, shares. “The payment habits of online purchasers vary from country to country. The Paytrail account, with small localisations, is a suitable payment service for all markets,” Laurio explains.
Paytrail is Finland’s largest company specialising in online payments, with over 4,000 corporate customers in more than ten countries and processing tens of millions of euros worth of online payments every month. The impressive and respected story of its growth has been recognized with the American Red Herring’s Europe Top 100 award and ranking 104 in Deloitte’s Technology Fast 500 EMEA list, amongst others. The company has said that it is ready to take on the world’s largest online payment company, PayPal.
Paytrail Company Overview
- Established in June 2007 under the name Suomen Verkkomaksut/Finnish Web Payments. On 5.6.2013, the company name changed to Paytrail and the new Paytrail account service was launched.
- 2013 turnover was 4.5 million euros.
- More than 4,000 corporate customers.
- Processes online payments worth tens of millions every month. The payment volume for 2014 will be approximately 0.5 billion euros.
- Around 40 personnel.
- Headquarters in Jyväskylä.
- The company is a licenced payment institution.
Further Information
Markus Laurio, CEO Paytrail Plc, markus.laurio@paytrail.com, +358 40 840 3754
Lennu Keinänen, Founder Paytrail Plc, lennu.keinanen@paytrail.com, +358 44 776 7827
Jukka-Pekka Nikula, Managing Director Midinvest Management Ltd,
jukka-pekka.nikula@midinvest.fi, +358 50 5399378
Read more
Finnish web payment solution to go global – taking online shopping to a new level
Written by Suvi Tikkanen - Jan 22, 2014
