Paymill recently decided to go for a ‘strategic’ preliminary insolvency as it engaged in M&A talks with potential buyers, and that its future had been unsure for many months in the face of intense competition in the online payments space, tech.eu reports.
Paymill was founded in 2012 with the help of Rocket Internet, which funded the company over the years alongside the likes of HV Holtzbrinck Ventures, Sunstone Capital and Blumberg Capital. Paymill raised EUR 16.5 million to carve out an online payments niche for itself in Europe.
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