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The Braunschweig-based logistics payment service provider JITpay™ is intensifying its collaboration with its Czech partner Eurowag as part of its internationalization strategy, supported by a closer capital connection. In this context, Eurowag has acquired an additional 18.01 percent of JITpay™ after its initial investment in September 2022, now holding a total of 28 percent.
(Braunschweig/London) With this planned expansion of the strategic partnership, JITpay™ is taking the next step to further strengthen its position as a leading digital billing and payment service provider for the transport industry in Europe. Eurowag is one of the largest pan-European payment and mobility platforms focused on commercial road transport and is also listed on the London Stock Exchange. Even after this increase in shares, the existing shareholders of JITpay™ remain the largest shareholders with 72 percent.
“This is an important step for our partnership with Eurowag. Together, we demonstrate how we will efficiently and successfully advance our business model and consistently tap into the fragmented European market,” said Daniel Steinke, CEO and founder of JITpay™. “We are focusing on even closer collaboration with Eurowag. This means synergies at the product level and the next stage of our digital ecosystem for medium-sized transport companies. This is exactly what our existing and potential customers across Europe expect,” Steinke said. The partners are combining their respective strengths in the area of on-the-go supply (Eurowag) and financial services (JITpay™) for transport entrepreneurs and are already leaders in their respective markets.
Option for the Remaining 72 Percent
After this increase in shares, Eurowag has now acquired a total of 28% of the shares in the JITpay™ Group. The transaction includes a capital contribution of 10 million into the company. Eurowag also has the option to acquire the remaining 72% of the shares starting in 2025.
Photo: © JITpay
