P+P advised CommerzVentures on investment in payment technology company Payworks

In the context of a series B financing round CommerzVentures invested in Payworks, a provider of next generation Point of Sale payment gateway technology.

CommerzVentures and Visa were the leading investors, participating for the first time. Also the former investors Speedinvest and Finparx invested again. Altogether Payworks completed the funding round at $ 14.5M. The capital shall be used for the company's growth and innovation strategy.

Payworks integrates mobile payment in apps and card readers. The Munich company provides an easy way of mobile payment within a B2B-system. The German GmbH was founded in April 2012 by Christian Deger, David Bellem, Simon Eumes and Johannes Lechner.

CommerzVentures GmbH is a 100% subsidiary of Commerzbank, headquartered in Frankfurt. The corporate venture capital company focuses on investments in the financial services sector (FinTech).

P+P Pöllath + Partners advised CommerzVentures comprehensively during the financing round with the following team:

• Dr. Michael Inhester (partner, M&A/venture capital, Munich)
• Andreas Kühnert (associate, M&A/venture capital, Munich)