BNPL market leader coeo targets rapid expansion in 2022
“Mergermarket” interview with CEO Elias Reitter
The coeo Group may be able to make multiple strategic company acquisitions in 2022, adding momentum to its growth trajectory. As CEO Elias Reitter outlined in an interview with the transaction industry information service “Mergermarket”, discussions are already underway with a number of companies under consideration that could suitably complement coeo’s business and regional presence in the US as well as in Europe. However, he also noted that the receivables management specialist, which has been represented in Germany, Austria, the Netherlands, Belgium and the UK to date, is also considering moving into new markets independently in addition to these purchases.
With a current workforce of 500 employees, coeo has already grown rapidly in recent years. Sales totalled around USD 200 million in 2021, equating to annual growth of more than 30% in the last four years and an average annual growth rate (CAGR) of almost 60% compared with 2014. On the one hand, the company’s increases in revenue and high level of profitability are attributable to the use of AI and automation, in order to make collection as customer- and debtor-friendly as possible. On the other hand, coeo is perfectly positioned thanks to its specialisation in receivables in the range of EUR 100 to 500 in e-commerce and in the “buy now, pay later” area – both are enjoying consistent growth and received another boost during the pandemic. According to Reitter, coeo even leads the market in the BNPL segment.
Subscribers can read the full Mergermarket article by logging in here