Billwerk+, a Frankfurt, Germany-based provider of subscription management and recurring billing software solutions, acquired plenigo, a Kempten, Germany-based subscription management and recurring billing software solution provider.
The amount of the deal was not disclosed.
With the acquisition, Billwerk+ will strengthen its presence in publishing and media and enhance its position as a pan-European player in subscription management, recurring billing, and payments software.
Founded in 2013, plenigo provides a solution that includes subscription sales control, recurring billing, payment processing control, as well as numerous sector-specific functions. Currently, the company serves almost 70 customers, including some of the most renowned German media houses such as Frankfurter Allgemeine Zeitung, SPIEGEL, Heise Medien, Süddeutsche Zeitung, and Ebner Media Group. The company employs around 25 people at its locations in Kempten, Berlin, Hamburg, and Belgrade.
Led by CEO Dr. Ricco Deutscher, Billwerk+ provides a cloud-based payment-, billing-, and subscription management platform that simplifies the management and billing of recurring and consumption-based services. plenigo is the third acquisition made by Billwerk+ since PSG’s initial investment in May 2021 following the combination with Reepay, a Danish cloud-based SaaS platform that allows companies to manage their payment processes and subscriptions, in November 2021, and the acquisition of Sofacto, a French Salesforce-based subscription management, and recurring billing application provider, in January 2022.
Billwerk+ employs more than 150 people at five locations: Frankfurt, Copenhagen, Montpellier, Gdansk, and Minsk.
Following the transaction, plenigo’s co-founders Thorsten Petter and Maximilian Schweitzer will both become shareholders of the group and continue to actively support the continued development of the platform. PSG Equity will continue to hold a controlling stake in Billwerk+.
FinSMEs
05/07/2023