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Nets announces alliance with Przelewy24 to continue Polish expansion

Bo Nilsson, Group CEO of Nets

Payments specialist Nets has announced a strategic alliance with Przelewy24, a Polish online payment service provider. Nets will attain a majority stake of 51% in the consolidated Polish group including Przelewy24 and the recently acquired Dotpay/eCard. Piotr Kurczewski will continue as CEO and shareholder of Przelewy24, with 49% of the consolidated group. Andrzej Budzik will continue as CEO of Dotpay/eCard.
“Przelewy24 has performed very well in recent years, achieving continued growth in volume and revenue,” commented Bo Nilsson, Group CEO of Nets. “This strategic alliance increases our presence in the merchant services area in Poland and in combination with our acquisition of Dotpay/eCard, we aim to further strengthen our presence in Poland through consolidation and strong commercial initiatives.”
He said Przelewy24 has a comprehensive product suite within e-commerce, adding that as part of Nets Group it will benefit from a broader portfolio of state-of-the-art e-commerce solutions, increased industrial scale and synergies through joint innovation.
“With our offerings in the e-commerce area we will further strengthen our combined merchant services portfolio, and as part of the Nets Group we will be able to speed up innovation, building on our joint capabilities to the benefit of merchants, partners and consumers,” added Piotr Kurczewski, CEO of Przelewy24.
Przelewy24 employs around 100 people and its 2018 gross revenues were more than EUR 20 million. The agreement is subject to customary approvals by the relevant Polish authorities.

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