Bank-owned ConCardis invests in German iPad POS firm orderbird

Bank-owned ConCardis invests in German iPad POS firm orderbird

ConCardis, a cashless payments outfit owned by a group of German banks, has led a $10 million series b funding round in iPad point-of-sales firm orderbird.

Berlin-based orderbird has seen strong take up of its POS platform within the hospitality industry over the last year and expects transaction volumes of around half a billion euros for 2014.

The firm is well established in Germany, Austria and Switzerland and also has a foothold in the UK and Ireland. It plans to use the latest investment to move further afield, cracking new markets.

ConCardis has a 30 year history in the card payments markets, taking care of more than 400,000 acceptance points. The JV, which recently launched its own mPOS offering, is not only investing in orderbird but committing to a strategic and operational partnership.

Jakob Schreyer, CEO, orderbird, says: "We are happy that we found an experienced partner in ConCardis, which is not only our investor but who is also there to strategically support our growth. Together we will benefit from a large retailer base and can use synergies jointly."

Private investors from the US and Luxembourg as well as existing investors, joined ConCardis in the latest round.

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