- Sandpiper Digital Payments AG invests in PlayPass nv to fuel international growth
- Strategic investment will strengthen Sandpiper’s presence in cashless payments
SANDPIPER Digital Payment AG is taking a strategic investment in PlayPass, www.playpass.be, a global player in cashless payments and access control for music festivals, to support the company in its international growth. The total consideration, subject to certain milestones and conditions, amounts to up to 2MEUR and is spread over 2 years.
SANDPIPER, a Swiss based stock-listed technology holding, focuses on the consolidation of the fragmented payment landscape by pursuing a “buy & build” strategy in the area of cashless payment systems for sports & events as well as for education and retail markets.
PlayPass currently serves festivals with its RFID & access control solutions in various countries in Europe and Asia. “Sandpiper’s investment will enable us to strengthen our focus on the global roll out of our technologies and services. The capital increase will further help us to accelerate the development of additional solutions in order to maximize visitors’ user experience on festivals”, says David De Wever, CEO of PlayPass.
Dr. Cornelius Boersch, initiator of SANDPIPER adds: “PlayPass is the perfect fit for Sandpiper’s internationalization strategy. The festival and event market is one of Sandpiper’s growth segments and we are convinced that Playpass’ technology combined with our network will be a great basis for further scaling PlayPass’ operations internationally”.
In addition, PlayPass welcomes Ron Schuermans as investor. Ron is assigned as CFO of PlayPass in March 2015 and will also accelerate the international growth of PlayPass in the US and Asia. Ron has a wealth of experience in supporting startup companies in their growth and capital needs.
Furthermore, PlayPass is glad to announce that it will provide RFID & cashless solutions in the AFAS-stadium, home to KV Mechelen, a Belgian football team playing in premier league. In this way PlayPass continues to enhance its presence in the segment of sport stadiums.
SANDPIPER Digital Payments AG, www.sandpiper.ch, is a stock-listed technology holding based in St. Gallen, Switzerland. The company is focused on the consolidation of the fragmented payment landscape in Europe by pursuing a “buy & build” strategy in the area of digital cashless payments and access control. SANDPIPER was established as a special purpose acquisition company in early 2014. The shares are listed on Berne Stock Exchange.
SANDPIPER is already today one of the largest providers of closed-loop payment systems in Europe. SANDPIPER solutions provide safe and intuitive payment technologies based on RFID/NFC and mobile applications for markets such as Retail, Education, Stadium, and Events.