Frankfurt-based subscription management platform billwerk has been acquired by Boston-based growth equity firm PSG. The company will continue to be led by co-founder and CEO Dr. Ricco Deutscher, as PSG will accelerate billwerk’s international growth plans, both organically and via M&A’s. Financials of the deal were not disclosed and is still subject to the customary regulatory approvals.
“We believe that billwerk’s position as a European leader in the subscription management space is driven by a superior product that seeks to ensure a company’s compliance with strict European regulatory standards,” comments PSG Europe’s Dany Rammal. “The fragmented European subscription management market is still in its nascency, and we believe that billwerk is well-positioned to benefit from the growing uptake in the use of subscription management tools as companies shift their business models online.”
Founded in 2015 by Dr. Ricco Deutscher and co-founders, billwerk provides a subscription management solution for European companies across a wide range of industries. The cloud-based solution offers highly flexible and scalable solutions to fully automise the recurring subscription process.
The firm counts over 40 employees with headquarters based in Frankfurt and satellite offices in Minsk, Belarus, and Gdansk.
“We believe we have found the perfect partner in PSG based on their unique focus and experience in partnering with founder-led software companies and supporting their growth throughout Europe, and beyond,” concludes Deutscher.