Eurazeo Capital's Planet acquires 3C Payment
Eurazeo Capital's portfolio company Planet has acquired 3C Payment, an omnichannel payment platform for businesses, hotels and restaurants.
3C is present in 47 countries, serving 11,000 customers and processing 22 billion euros in value from over 300 million transactions.
This strategic acquisition will enable the new entity to offer its customers an integrated payment solution for domestic and international payments, as well as a variety of value-added services such as currency conversion and VAT refund. This unique platform will manage over 45 billion euros in value from over 800 million transactions each year through nearly 600,000 merchants.
Planet, which has increased its revenue by 15 per cent each year since it was acquired by Eurazeo Capital in December 2015, reacted rapidly and appropriately to the crisis caused by the outbreak of Covid-19. This enabled the company to safeguard its strong cash position and acquire 3C from its equity.
By acquiring 3C, Planet has significantly expanded the size of its payment business, placing itself in a very favourable position as activity resumes in its main markets.