W.A.G. payment solutions, a.s. (Eurowag), a Prague, Czech Republic-based provider of payment solutions for freight and passenger carriers across Europe and Turkey, received a minority investment from global growth private equity firm TA Associates.
The financial terms of the transaction were not disclosed. In conjunction with the investment, J. Morgan Seigler and Ajit Nedungadi, Managing Directors at TA Associates, will join the Eurowag Board of Directors.
Founded in 1996 by Martin Vohánka, CEO, Eurowag offers a portfolio of cards for vehicle fueling, as well as toll payment solutions that provide a unified system of electronic toll payment across a number of European countries. It offers:
– Eurowag One for large international haulage companies;
– Eurowag Easy as a pre-paid card;
– Eurowag Vector, specially designed for freight forwarders;
– Eurowag Fleet for passenger cars; and
– Eurowag MasterCard as a pre-paid convenience solution.
The company currently serves over 4,000 customers including international trucking companies, small haulers and operators of delivery and personal vehicle fleets, with more than 120,000 active fuel cards, over 9,500 fuel card acceptance points in 24 countries, and automated toll payment coverage in 18 countries.
Eurowag has additional offices in the Czech Republic and in Austria, Bulgaria, Hungary, Poland, Romania, Slovakia and Turkey.