Based on a platform carve-out from one of the large Nordic banks, Bambora was created with the aim of creating a leading player within the payment services sector through a carefully crafted acquisition strategy and significant investment in products, capability and the organisational framework.

In May 2015, the Bambora Group was launched as a Nordic-based payment service group, offering online, in-store and mobile payment solution services. Already from the beginning the Group's ambition was global and Bambora succeeded in being one of the very few payment providers with omni channel payment capabilities and global reach. 

By July 2017, when the Ingenico Group (publ.) signed the agreement to acquire Bambora, the company processed close to EUR 50 billion in annual transaction volumes worldwide and provided payment solution services to more than 450,000 merchants in Europe, North America and APAC.

Sourcing
Nordic Capital has tracked the payments markets for more than ten years and had previously invested in a similar business, Point, in 2004. 

Leveraging our strong sector knowledge and network, we were able to engage with SEB to initiate a semi-exclusive process for acquiring Euroline, the base business for Bambora.

Three add-on acquisitions were also identified through proactive sourcing efforts before the platform investment in Euroline was completed.

Investment rationale

  • Significant presence in online payments, which is a fast-growing underlying market
  • Focus on the under-served small and medium-sized merchants with an increasing demand of smart digital and cross boarder solutions
  • Market leading core technology with scalable and truly global capabilities
  • Significant untapped growth potential
  • Access to a leading management team in the payment market
  • Nordic Capital was the best positioned buyer: in-depth payment sector knowledge and extensive expert network

Building the business

  • Nordic Capital saw an opportunity to change the payments landscape together with the strong and experienced management team, led by former Point (Nordic Capital Fund V portfolio company) CEO Johan Tjärnberg
  • Based on a platform carve-out from one of the large Nordic banks, Bambora was created through a carefully crafted acquisition strategy and significant investment in products, capability and the organisational framework
  • In 2015, Bambora was launched as a single brand and platform with a strong technological base and a customer-centric offering and culture
  • Growth has been generated by the successful development of new products particularly in the SME segment where the company has significantly increased its market share
  • The business has also expanded into new markets including Norway, Denmark, Finland, US, Switzerland and Australia
  • Within two years, Bambora secured its position as a world leading payment powerhouse for the SME market. It transformed the payments landscape and is now one of the fastest growing companies in its sector with a unique technological platform
  • In 2016, Bambora achieved annual revenues of EUR 200 million and by July 2017, it employed more than 700 people (of which 400 were recruited between 2015 and 2017)
  • At the time of the announced exit in July 2017, Bambora was helping 110,000 customers to grow in 70 different markets, and managed transactions with a value of over EUR 55 billion per year, of which more than 70% are online and mobile

In July 2017, less than three years after inception, Nordic Capital Fund VIII sold Bambora to Ingenico Group (publ.), one of the world’s largest payments companies for an Enterprise Value of approximately EUR 1.5 billion. The acquisition provided Bambora with the potential to maintain its rapid growth momentum by leveraging its technology platform within the Ingenico Group; whilst also enabling Ingenico to strengthen its online positioning and growth profile. 

This information was updated in November  2017