HoneyPayment valued at PLN 400 million, the Polish fintech, which created the DotBee multi-application for financial management, concluded an investment agreement with JR HOLDING ASI SA, in which the parties specified the conditions under which HoneyPayment will take up the shares of the new issue of Maximus SA HoneyPayment by contributing shares held by the existing shareholders will pay for the shares of the new issue of Maximus SA and become the majority shareholder of the Company.
HoneyPayment is getting ready for its NewConnect debut
– Thanks to the concluded agreement, HoneyPayment will soon enter the New Connect stock market. It is an extremely important moment for us, for which we have been working since the very beginning of our company. This will increase our recognition and make it easier to compete on the global market for the title of the best financial multi-application that makes life easier. Thanks to the simplification of payment operations and focusing on the customer, we already have over half a million users in Poland alone. The LoanBy.link system and the Mambon marketplace also have an established position on the market with a still high prospect of growth. Now, we intend to move the model that has proven its worth on the Vistula to other markets. Our goal is to scale – said Grzegorz Szulik, President of the Management Board and founder of HoneyPayment. In order to prepare for the performance of the agreement, Maximus SA is obliged to split the shares by reducing their nominal value from PLN 1.00 to PLN 0.10. Then, within 2 months from the fulfillment of the conditions related to the preparation of HoneyPayment for the transaction, Maximus SA will hold a general meeting at which it will propose to the shareholders to adopt a resolution on the issue of a new series of shares, excluding subscription rights, addressed to the current owners of HoneyPayment. The new issue is to constitute an estimated 89% of Maximus SA shares, assuming the value of the owner of the application is estimated between PLN 300 and 400 million. – In our opinion, the valuation of HoneyPayment at the level of approximately PLN 400 million is absolutely justified. The last round of financing carried out a few months ago, in which we collected PLN 11 million, was just like that, and since then the number of our clients has increased from around 300,000. to over half a million. For comparison, I can only add that with our current stage of development, the Revolutczy Klarna were already valued at over $ 1 billion, so we have a huge potential. – added Grzegorz Szulik. Currently, the majority shareholder of Maximus SA is JR HOLDING ASI SA, which focuses on investments and development of companies in industries that are among the most promising, such as renewable energy, gaming, lifestyle, artificial intelligence and biotech. Following the transaction, HoneyPayment will take over a controlling stake in Maximus SA, and JR HOLDING ASI SA will remain in the shareholding structure. – We are happy to add HoneyPayment to our portfolio. We see great potential in this company and we are looking forward to further cooperation. The domain of HoneyPayment products (DotBee, Mambon andLoanByLink) is the ease of customization in other markets. This is especially important nowadays as we live in the era of dropshipping, where the sales platform is more important than the product itself. When deciding to buy, the customer first thinks where to buy it, and then looks for a specific product. DotBee is a financial marketplace that responds to the current market trends and we believe in this project very much – said January Ciszewski, President of the Management Board of JR HOLDINGASI SA
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