Adveq joins €30m AEVI funding round

The co-investment was made alongside Dutch investor HPE Growth Capital, which provided the initial tranche of €20m in May 2016.

The investment is supposed to fund the company's international expansion. AEVI, which is part-owned by Diebold Nixdorf, was carved out of the group as an independent company at the start of the financial year in October 2015. Diebold Nixdorf intends to retain a majority holding in AEVI in the long term, alongside the new investors.

Since the initial investment in May, AEVI entered collaborations with London-based payments company Worldpay and California-based VSi, an app for the hospitality industry.

In a recent LP Profile, unquote" explored Adveq's strategy, first-time funds and co-investments.

Company
Founded in 2015 as a spinout from Diebold Nixdorf, AEVI is a cashless payment business based in Paderborn. It has additional offices in Czech Republic and the UK.

People
Adveq – Richard Damming (executive director).
HPE Growth Capital – Tim van Delden (partner, CEO).
AEVI – Reinhard Rabenstein (managing director).

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• Topics
• Expansion
• DACH
• Financials
• Germany
• Adveq