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SafeCharge sells minority stake in Germany’s FinTech Group

15th June 2016 6:54 am GMT

UK-headquartered payments services provider SafeCharge International Group has sold its five percent minority stake in German based financial services technologies company FinTech Group.

SafeCharge acquired the stake in June 2015 for a cost of €10m.

Based on FinTech Group’s current market capitalization of €239m, SafeCharge’s stake was sold for approximately €11.9m, resulting in a profit of approximately €1.9m for SafeCharge.

SafeCharge had made the investment with the hopes of partnering with FinTech to develop and offer banking services [...]

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