Alternative asset manager Pollen Street PLC (LSE:POLN) has acquired a majority stake in Berlin-based online debt-collecting platform PAIR Finance.
The financial terms of the acquisition were not disclosed, but PAIR’s former largest shareholder finleap will be staying on as a minority shareholder.
Pollen Street describes PAIR Finance as “a high-growth, digital-first collections platform offering unique debt collection technology based on artificial intelligence and behavioural research, aiming to create a more efficient payment process”.
Pollen Street Partner Michael England said in a statement that “our investment strategy focuses on identifying excellent businesses with strong customer propositions and tech-led business models”.
He also highlighted PAIR Finance’s “impressive track record of high growth and a strong foundation, as the leading digital-first player in the market.”
The acquisition is the first significant deal announced by Pollen Street since it emerged from the merger of Honeycomb Investment Trust and Pollen Street Capital at the end of September.