Reepay merges with billwerk in a deal backed by PSG.

Reepay, a Copenhagen, Denmark-based SaaS platform that allows companies to manage their payment processes and subscriptions, announced getting into a merger agreement with its German competitor, Frankfurt-based billwerk.

The deal, which has the financial details not disclosed, was backed by the private equity investors from the US PSG, which will control the majority equity package in the combined entity. billwerk CEO Ricco Deutscher will become the Group CEO.

Reepay, founded in 2015 by CEO Robert Mygind and Ole Borup, developed a cloud-based platform that provides other companies with an all-in-one billing and payments solution consisting of both a payment gateway, built to cater to both small and large businesses, and a subscription management product for SMBs. Headquartered in Copenhagen, Reepay’s customer base extends across Europe with a particularly strong presence in the Nordics, including Denmark, Norway and Sweden.

Reepay was previously backed by local investors from Denmark, including Dico, Ivan Sandqvist and Jacob Ajsen.

billwerk was founded in 2015 by Dr. Ricco Deutscher and his Co-Founders. With its subscription management platform, billwerk reliably provides a significant part of the digital value chain for recurring business models. Today billwerk employs 67 employees across its headquarters in Frankfurt, Germany, and offices in Minsk, Belarus and Gdansk, Poland. Its subscription management platform is currently used by several hundred midsize and enterprise customers as well as fast expanding start-ups across Germany, Switzerland and France, with a growing presence in other European regions including the Nordics and Benelux.

billwerk was previously owned by PSG, which acquired the major equity package earlier in 2021.