Viabill has reported record results for the fiscal year 2022/2023. And now the Danish-headquartered BNPL outfit says that it poised to enter what it terms ”consolidation mode and scout for possible acquisitions.”
Specifically, Viabill reports consolidated net profits of €5.4m on a group turnover of €22.2m.
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According to group CEO Jan Lytje-Hansen, the record results underline that Viabill stands out in a market where bleak outlooks are due for those that still base their operations on zero interest rate policy-era conditions. But he claims that skies are clearing for profitable BNPLs that have a proven ability to adapt to changed market conditions:
“Being able to control your costs is paramount in our line of business where growth comes easy, but healthy growth requires dexterity. As far as we know, Viabill is still the only BNPL in Europe that has been able to perfect that balance and that makes us quite the rarity, providing us a unique platform for potentially conquering the European market”, said Jan Lytje-Hansen.
Eyes wide open for possible acquisitions
Nearing its 15th year in operation, Lytje-Hansen is now eyeing possible acquisitions. In particular, Viabill is looking to grow the firm beyond its current domain in Denmark and Spain into a pan-European BNPL by acquiring loss-making European BNPL companies.
“Many European BNPLs are struggling as their business models were built for ZIRP. Those days are long gone, and consequently more BNPLs won’t be able to refinance their loan books and fund future growth. Viabill knows how to make profits, and having all the necessary licenses, experience and funding capabilities, we will be keeping our eyes wide open for potential acquisitions on the European market in 2024/2025.”
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By GlobalDataBottomline-centric BNPL
Viabill was established in 2010 introducing a platform allowing for rapid onboarding of merchants and consumers. Today, Viabill has more than 270,000 customers and is owned through The Holding Co A/S by global VC firms like Headline GmbH as well as a number of private investors. And according to Andreas Haug, Partner at Headline GmbH, Viabill’s unique position and business model has the potential to lay ground for a new breed of bottomline-centric BNPLs that can challenge the current European and global market-leaders:
“It’s impressive that for 15 years, Viabill has consistently delivered both top and bottom-line growth quarter after quarter. This despite the recent global financial turbulence and general headwinds in the BNPL sector. The strong focus on winning the Danish market will now be complemented by increased attention on European expansion. As we shift into a consolidation phase, we hope that viable acquisition targets will soon emerge”, added Haug.
In 2022. Viabill raised $120m in an equity and debt round to expand its offering to the physical retail segment. London-based Fasanara capital led the fundraising round.
