Volkswagen Financial Services Acquires sunhill technologies

sunhill-technologiessunhill technologies, an Erlangen, Germany-based developer of apps that allow users to make payments for parking, electric vehicle charging, and public transportation tickets from their mobile phones, has been acquired by Volkswagen Financial Services AG.

High-Tech Gründerfonds, MIG 7, Bayern Kapital and the KfW Bank Group have sold 92% of their shares in the company for an undisclosed sum.

Founded in 2001 by Matthias Mandelkow and Christoph Schwarzmichel, sunhill provides cashless payment methods and mobility services for mobile phones in cooperation with German and European mobile communications providers.

The company, which has over two million users in more than 150 locations, will use the proceeds from the acquisition for technological development and sales.



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