DGAP-News: Carlson Investments has acquired Canadian FinTech Paymiq

Press release Warsaw, 10 December 2021

Carlson Investments has acquired Canadian FinTech Paymiq

Carlson Investments S.A., a NewConnect listed investment group, has acquired and executed a call option to acquire 100% of Paymiq Financial Group Ltd. The Canadian start-up creates tools to manage everyday finances for individuals and companies. The final value of the transaction amounted to PLN 2.6 million (around EUR 564 thousand). At the same time, the company completed a share issue, raising gross proceeds of PLN 5.9 million (around EUR 1.3 million).

Carlson Investments S.A. (ISIN PLHOTB000011) has acquired an option to purchase 100% of the shares in Paymiq Financial Group Ltd. for PLN 2.5 million (around EUR 542 thousand). To date, the option has been granted to Bouchard et Cie SA in exchange for covering all costs of setting up Paymiq Financial Group, as well as applying for a money services business (MSB) license from FINTRAC and financing the company until it reaches the stage of being fully operational. Bouchard et Cie is one of the shareholders of Carlson Investments, holding shares giving it more than 15% of the voting rights at the General Meeting of Shareholders. Carlson Investments S.A. simultaneously executed a call option by paying EUR 20 thousand for 100% of the shares in Paymiq Financial Group.

"Paymiq was financed by Bouchard et Cie while Carlson Investments was being formed. As part of the transaction, we reimbursed the costs of creating Paymiq. Our goal is to dynamically develop this project," said Aleksander Gruszczyński, CEO of Carlson Investments S.A.

Carlson Investments exercised its right and acquired all shares in Paymiq Financial Group Ltd. from Maksim Naruta, who was responsible for the company's development to date and the licensing process.

Paymiq is an early stage Canadian FinTech. The company creates tools to manage everyday finances for individuals and businesses in the areas of payment accounts, mobile banking, SWIFT payments, SEPA payments, and a functional currency exchange platform. The startup is currently in the process of developing an operational infrastructure, establishing a relationship with SWIFT, and preparing to become fully operational.

"Acquisition of shares in Paymiq is part of the implementation of the fund's business strategy. It is another company from the FinTech area in our investment portfolio. The investment in Paymiq will ensure our gradual entry into the fast-growing FinTech market worldwide, and in particular on the North American market," added Aleksander Gruszczyński.

Carlson Investments' portfolio, in addition to Paymiq, includes FinTech company Helvexia PTE. Ltd. Meanwhile, Carlson ASI EVIG ALFA fund backs epeer and MMPay, among others.

Paymiq is currently in the MVP development phase and in discussions with contractors and business partners.

"Our efforts are focused on preparing and launching the first version of a fully functional product to gather feedback from customers. At the same time, we are at the stage of waiting for approval of our application from SWIFT, acquiring payment contractors, discussing with partners and recruiting team members," said Anna Ulasevica, CEO of Paymiq.

The transaction was financed by a series S share issue worth PLN 5.9 million (EUR 1.3 million). The funds raised from investors will be used to invest in further projects in the FinTech, MedTech and CleanTech industries.

About Carlson Investments:
Carlson Investments S.A. is an investment group listed on the Warsaw Stock Exchange, whose aim is to invest in technology companies characterized by product or process innovation. The company is particularly interested in invests from industries such as: FinTech, MedTech, and CleanTech. The company is also a strategic advisor to the Carlson ASI EVIG Alpha fund, which finances start-ups under the BRIdge Alpha program.
For further information, please visit carlsonvc.com

About Paymiq:
Paymiq is a Canadian FinTech creating tools to manage everyday finances for individuals and businesses in the areas of payment accounts, mobile banking, SWIFT payments, SEPA payments and a functional currency exchange platform.
For further information, please visit paymiq.com

Contact:

Aalto Capital (Investor Relations, Germany)
Susan Hoffmeister, Partner
Email: susan.hoffmeister@aaltocapital.com
Phone: +49 89 898 67 77 0

InnerValue (Investor Relations, Poland)
Piotr Murjas
Email: p.murjas@innervalue.pl
Phone: +48 534 840 730