Unzer E-Com Successfully Completes Special Monitorship – Onboarding Ban Fully Lifted
Berlin, October 31, 2024 – The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin) has ended the special monitorship at the Unzer E-Com subsidiary and fully lifted the onboarding ban. This is an important milestone in the company's development.
Over the past three years, Unzer has worked intensively to improve its compliance processes. To this end, the company has invested more than 20 million euros and introduced a three lines of defence framework throughout the group.
Max Steiger, Chief Compliance and Governance Officer, said. “We are a very different company today than we were in 2020 and 2021 when the findings were made. We have new management, a new technology platform and robust governance. Most importantly, we have created a culture of transparency and integrity. The fact that BaFin has ended the special monitorship and onboarding ban underlines what we have achieved over the last three years.”
Unzer is optimistic about the future
With revenues exceeding EUR 206 million and an adjusted EBITDA of EUR 27 million, Unzer is pleased with its 2023 performance and increased profitability. This success followed a comprehensive operational restructuring, during which Unzer narrowed down its strategy, strengthened internal controls, massively reduced its risk exposure and increased efficiency by utilising synergies. Adjusted EBITDA is expected to continue to grow in the current financial year.
CEO Robert Bueninck comments: “Our mission is to help our merchants digitize their businesses. To do this, we offer a one-stop shop - a holistic ecosystem with integrated payment and software solutions. In the future, we want to exploit the synergies of our Group even more and continue to take over a larger part of our merchants’ value chain. The positive effects of the restructuring and the strong first half of the year give us great confidence for 2024 and beyond.”
In the coming months and years, Unzer plans to continue to invest in its technological infrastructure as well as its products and services. The company has an extensive and diverse product portfolio that allows retailers to accept e-commerce, mobile, and point-of-sale payments including its own Buy Now, Pay Later product. Additionally, Unzer provides software solutions like table management for restaurants, inventory management for retailers, and a reservations tool for hairdressers, all seamlessly integrated with their point-of-sale (POS) systems.
About Unzer
Unzer digitalisiert den Handel mit Zahlungs- und Softwarelösungen entlang der gesamten Wertschöpfungskette. Von Online-Einkäufen über mobile Kassensysteme in Filialen bis hin zu notwendigen Geschäfts- und Managementprozessen vernetzen und vereinfachen wir zentrale Abläufe im Einzelhandel. Das ganzheitliche Ökosystem hilft Händlern, ihre Geschäftsmodelle zu optimieren, während ihre Kunden von einem einfachen und nahtlosen Einkaufserlebnis profitieren.
More than 85,000 merchants across Europe already use Unzer's ecosystem. The company employs around 750 people in eight offices in Germany, Austria, Denmark and Luxembourg.