Chinese payment solutions provider VBill buys back shares from EQT Mid Market Asia III fund

Chinese payment solutions provider VBill buys back shares from EQT Mid Market Asia III fund

(IN BRIEF) Private equity firm EQT’s Mid Market Asia III fund has sold its minority stake in Chinese payment solutions provider VBill back to the company through a put option. The investment was made in 2019 and the exit was made after VBill transformed from an offline merchant acquiring and payment business to an integrated merchant operating solutions provider, offering value-added services like software-as-a-service, fintech and marketing tools. EQT’s digitalisation teams helped the company introduce three new software solutions during the partnership.

(PRESS RELEASE) STOCKHOLM, 15-Feb-2023 — /EuropaWire/ —  EQT AB (STO: EQT), a purpose-driven global investment organization, announces that EQT Mid Market Asia III fund (“BPEA EQT”) has successfully exited its minority stake in VBill, a leading payment solutions provider headquartered in Beijing, China. The exit was completed through a put option and the repurchase of the shares by the Company.

Since BPEA EQT’s investment in 2019, VBill has undergone a significant transformation from a traditional offline payment business to an integrated merchant operating solutions provider. With EQT’s support, VBill has expanded its offerings to include three new SAAS solutions for its extensive merchant base. These solutions include an integrated retailer platform that empowers retailers to make informed decisions based on data insights, a private domain operation for chained retailers with exclusive customer pools, and marketing tools that enhance customer engagement and increase revenues.

With the successful exit, BPEA EQT has once again demonstrated its expertise in creating value through strategic investments in growth-oriented companies in Asia. VBill, on the other hand, is well-positioned to continue its growth trajectory and build on its position as a leading payment solutions provider in China.

About BPEA EQT
BPEA EQT is part of EQT, a purpose-driven global investment organization in active ownership strategies. BPEA EQT combines the private equity teams from Baring Private Equity Asia (BPEA) and EQT Asia, creating a comprehensive Asian private equity presence with local teams in eight cities across the region, a 25-year heritage, and more than USD 25 billion of capital deployed since inception. In addition to BPEA EQT, EQT’s strategies in the region include EQT Infrastructure and the real estate division EQT Exeter.

More info: www.eqtgroup.com/private-capital/bpea-eqt
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About VBill
VBill is a leading independent third-party payment service provider in mainland China. Founded in 2011 and headquartered in Beijing, VBill is fully licensed to conduct bank card acquiring, internet payment, mobile payment and cross border RMB settlement.

More info: vbill.cn

Media contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

SOURCE: EQT AB