The Payments Group
The Payments Group Holding is a Frankfurt-listed German holding company operating an integrated PayTech stack (prepaid cards, cash payments, MFSA-licensed e-money) via Calida Financial Ltd and sister entities, while also holding minority VC stakes in AI (Softmax AI 25%) and SaaS (AuctionTech/PropNow 35%) companies, and pivoting toward AI and Biotechnology investments.
- Company typePublic
- Founded2012
- HeadquartersFrankfurt, Germany
- Headcount51–100
- GTM typeB2B
- OfferingServices
What The Payments Group does
The Payments Group Holding GmbH & Co. KGaA (PGH) is a Frankfurt-headquartered, Frankfurt-Stock-Exchange-listed German holding company that has undergone three strategic transformations since its 2012 founding as German Startups Group: first a 2020 merger with SGT Capital to become a private equity asset manager, then a 2024 pivot to an integrated PayTech operator, and now a planned August 2026 rename to German Tech Holding to refocus on early-stage AI and Biotechnology investments. Operationally, PGH owns and consolidates four PayTech entities (Funanga AG, Campamocha Ltd, TBWS Ltd, and Surfer Rosa Ltd) plus the regulated e-money institution Calida Financial Ltd, which holds an MFSA e-money license and operates a global online prepaid card network together with more than 550,000 POS cash-payment points serving hundreds of online merchants worldwide. Beyond payments, PGH retains minority stakes in a heritage venture portfolio (notably AuctionTech at 35%, which operates the European market-leading PropNow SaaS for real-estate digital bidding, plus SoundCloud and Thinksurance), holds a 25% stake in the Softmax AI company builder producing spin-offs such as Cognicare AI, and is actively pursuing recovery of EUR 6.2 million in claims against the SGT Capital group. Revenue mechanics mix transaction fees on prepaid and cash-payment processing, recurring-style asset management fees from legacy fund structures, and capital returns from VC/AI portfolio holdings.
The Payments Group firmographics
Firmographics- Name
- The Payments Group
- Legal name
- The Payments Group Holding GmbH & Co. KGaA
- Website
- https://tpgholding.com
- Company type
- Public
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- The Payments Group Holding is a Frankfurt-listed German holding company operating an integrated PayTech stack (prepaid cards, cash payments, MFSA-licensed e-money) via Calida Financial Ltd and sister entities, while also holding minority VC stakes in AI (Softmax AI 25%) and SaaS (AuctionTech/PropNow 35%) companies, and pivoting toward AI and Biotechnology investments.
- Ownership category
- akta.pro rank
The Payments Group industry classification
Industry- Product category
- Payment Processing Services
- akta.pro primary industry
- Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)
- akta.pro secondary industries
- Marketplace / Platform Acquiring (PayFac & Sub-Merchant Management) (FSAMABAF), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)
Keywords
Where The Payments Group is headquartered
LocationHeadquarters
- HQ city
- Frankfurt
- HQ country
- Germany
- HQ region
- Europe
Offices3 records
Markets served
The Payments Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Others
Revenue model
- Asset Management Fees: As a licensed private equity asset manager, the company generates fixed-fee asset management services from its private equity funds. Sustainable, predictable profitability from management fees.
- E-Money and Payment Processing Services: Revenue from providing prepaid payment services to online merchants globally, including closed-loop and open prepaid payment solutions, cash payment processing at POS, and branded/white-labelled payment services.
- AI Company Building / VC Portfolio Returns: Returns from early-stage investments in AI and Biotechnology through Softmax AI company builder (25% stake) and heritage VC portfolio stakes including AuctionTech (35%), SoundCloud, Thinksurance.
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
The Payments Group product offering
Product offeringCore offering
The Payments Group builds and runs PayTech companies delivering proprietary closed and open (branded and white-labelled) prepaid payment services, cash payment solutions, and e-money products to hundreds of online merchants worldwide through MFSA-licensed Calida Financial Ltd. The company also holds a 35% stake in AuctionTech (European market leader in PropNow SaaS for digital real estate bidding) and a 25% stake in Softmax AI, an AI-focused company builder producing spin-offs such as Cognicare AI for senior care facilities.
Product overview
The Payments Group Holding (PGH) is a holding company transitioning from a former venture capital provider (German Startups Group/SGT German Private Equity) through multiple transformations. The current portfolio consists of: (1) PayTech operations via The Payments Group (TPG) - acquired in 2024, consisting of Funanga AG, Campamocha Ltd, Calida Financial Ltd, and Surfer Rosa Ltd providing prepaid payment services and e-money solutions across Europe; (2) AI-focused company building through its 25% stake in Softmax AI, which is creating spin-offs including Cognicare AI for senior care; (3) heritage VC portfolio including AuctionTech (35% stake, operating PropNow SaaS platform), SoundCloud, and Thinksurance; and (4) receivables recovery from SGT Capital Group. PGH is planning to rename itself German Tech Holding (GTH) in August 2026 to reflect its strategic refocus on early-stage AI and Biotechnology investments.
Differentiator
Problem solved
Functional benefit
Brands
- AuctionTech: European market leader with SaaS-based white-label solution PropNow for digital bidding and offer processes in the real estate market
- Softmax AI
- Cognicare AI
- The Payments Group (TPG)
- PropNow
Products and services
- Proprietary Closed and Open Prepaid Payment Services Branded and white-labelled closed and open prepaid payment services for online merchants worldwide, enabling cash and cashless online payments. Backed by the MFSA e-money license and connected to a global online prepaid card network and 550,000+ POS cash payment points.
- Calida Financial Ltd E-Money Services Regulated e-money services and products offered across Europe via Calida Financial Ltd, the MFSA-licensed entity within The Payments Group. Includes innovative e-money services and products enabling prepaid, cash, and cashless online payment processing.
- PropNow (via AuctionTech)
Quantifiable outcome
- 550,000+ POS cash payment points and global online prepaid card network operational footprint
- +3 more outcomes
Companies that use The Payments Group
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles3 records
The Payments Group technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature4 records
The Payments Group partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered minor and core.
- SGT Capital GroupminorThe Payments Group is actively pursuing resolution of €6.2 million in claims against the SGT Capital group. Negotiations have been ongoing since March 27, 2026. This is a dispute resolution matter rather than a commercial partnership. The company won an important victory against SGT Beteiligungsberatung GmbH in court on June 30, 2025.
- BluecodecoreStrategic cooperation with Bluecode technically and economically successful. Bluecode is a leading mobile payment system in Europe. The cooperation was launched in August 2025 and has been described as both technically and economically successful.
- German AI Projects GmbH (Softmax AI)corePGH Group launched a company builder focused on artificial intelligence together with AI experts via Softmax AI GmbH (also referred to as German AI Projects GmbH). PGH holds a 25% stake in this company builder. Cognicare AI is a spin-off addressing senior care facilities with AI applications. Softmax AI plans to launch several additional spin-offs over the next twelve months for various product families in advanced development.
- HubPeoplecoreThe Payments Group partners with HubPeople to bring cash payments to another 100 million users globally. This partnership extends The Payments Group's reach by integrating HubPeople's user network with TPG's cash payment infrastructure, enabling cash-based online transactions for a large user base.
- FinMontcoreFinMont announces strategic partnership with The Payments Group to expand payment solutions in the travel sector. FinMont integrates The Payments Group's cash and eVoucher solutions, bringing TPG's payment infrastructure to the travel industry vertical.
- UtimacominorSGT Capital II Fund acquired Utimaco, a strong-growing global market leader in Cyber Security solutions with headquarters in Aachen and Campbell, California. Utimaco employs more than 470 people and expects three-digit million revenue. Acquired from EQT Private Equity which retains a minority stake. Deal facilitated by Bain Capital Credit for debt financing.
Scale indicators13 records
Recent moves12 records
Expansion highlights6 records
The Payments Group competitors and assessment
Company assessmentBroad incumbents
- Worldline: European payment processor and merchant acquirer with regulated e-money and payment-services licenses; comparable regulatory and operational scope to TPG's Calida Financial Ltd e-money operation.
- Adyen: Pan-European payment processor and merchant acquirer serving global enterprise merchants; comparable as a broader incumbent in the same payment-processing category where TPG is building its niche.
Direct peers
- Stripe: Global PayFac and merchant acquiring platform for online merchants; directly comparable to TPG's prepaid/payments-as-a-service offering and the natural competitive benchmark for European online-merchant acquiring.
- Mollie: European PayFac focused on SMB and mid-market online merchants with multi-payment-method acquiring; directly comparable business model and target segment to TPG's online merchant acquiring franchise.
- SumUp: Global POS-and-online payments provider with strong cash-payment and prepaid components; overlaps with TPG's 550,000+ POS cash payment infrastructure and merchant acquiring model.
- PPRO: Payment orchestration platform offering alternative-payment-method aggregation and acquiring infrastructure; closely comparable to TPG's payment-orchestration and white-labelled acquiring capabilities.
- Checkout.com: Global PayFac and payment orchestration platform for online merchants; comparable technology stack and merchant-acquiring focus, though operating at much larger scale.
- Paysafe: Specialist in prepaid payment solutions, e-money and digital wallets for online merchants and consumers; closely comparable to TPG's closed/open prepaid card and e-money proposition.
- myPOS: European e-money institution offering merchant acquiring and prepaid card services to SMBs; comparable to TPG in regulated e-money scope and merchant target segment.
Others
- EQT (private equity asset manager): Comparable as a public/private European PE asset manager — relevant given TPG's historical PE-asset-management revenue stream alongside its payments business.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
The Payments Group social profiles
Digital presenceThe Payments Group compliance and trust
Trust signalCompliance1 record
The Payments Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Payments Group leadership team
Management profileNumber of profiles
Profiles3 records
The Payments Group subsidiaries and ownership
Company hierarchySubsidiaries11 records
The Payments Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Payments Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Payments Group
What does The Payments Group do?
The Payments Group builds and runs PayTech companies delivering proprietary closed and open (branded and white-labelled) prepaid payment services, cash payment solutions, and e-money products to hundreds of online merchants worldwide through MFSA-licensed Calida Financial Ltd. The company also holds a 35% stake in AuctionTech (European market leader in PropNow SaaS for digital real estate bidding) and a 25% stake in Softmax AI, an AI-focused company builder producing spin-offs such as Cognicare AI for senior care facilities.
Is The Payments Group a public or private company?
The Payments Group is a public company. It is classified as public and is currently operating.
When was The Payments Group founded?
The Payments Group was founded in 2012. It employs 51 to 100 people.
Where is The Payments Group based?
The Payments Group is headquartered in Frankfurt, Germany, in the Europe region.
How does The Payments Group make money?
Three revenue lines are on record. Asset Management Fees are the primary driver. The others are E-Money and Payment Processing Services and AI Company Building / VC Portfolio Returns.
Who are The Payments Group's main competitors?
Broad incumbents on record are Worldline and Adyen. Direct peers are Stripe, Mollie, SumUp, PPRO, Checkout.com, Paysafe and myPOS. EQT (private equity asset manager) is listed as an others.
Does The Payments Group have an API?
No public API is recorded for The Payments Group.
What industry is The Payments Group in?
The Payments Group's product category is Payment Processing Services. Its primary akta.pro industry code is FSAGABAE, Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure, with a secondary code of FSAMABAF, Marketplace / Platform Acquiring (PayFac & Sub-Merchant Management).