<article>European private equity firm <a href="https://www.dealstreetasia.com/tag/eqt-partners/">EQT Partners</a> has entered an agreement to acquire 10% stake in Chinese third-party payment service provider VBill.</article>

European private equity firm <a href="https://www.dealstreetasia.com/tag/eqt-partners/">EQT Partners</a> has entered an agreement to acquire 10% stake in Chinese third-party payment service provider VBill.
The funding will be made through its EQT Mid Market Asia III fund, the firm said in a statement. The transaction is expected to close in the first half of 2019.
Founded in 2011, VBill offers payment solutions including bank card acquiring, omni-channel payment, Internet payment and others. VBill also provides value-add services, such as fintech-enabled consumer lending.
With the investment from EQT, the Beijing-based payment company will continue its expansion into lower-tier cities and penetration in SMEs, further develop its consumer lending business, and opportunistically identify overseas expansion opportunities in Europe, Latin America and Southeast Asia.
“With EQT’s global and Chinese corporate governance and service sector experience, we are well-positioned to become the go-to payment service provider for local merchants and pursue overseas expansion opportunities,” said Shen Zheng, chairman of VBill.
The management team, under the joint leadership of Shen Zheng, include CEO Li Huimin, vice presidents Guo Yi and Xue Guangyu, and CFO Ge Xiaoxia, together with EQT and VBill’s parent company Hi Sun Technology.
VBill processed around 170 billion transaction value and recorded annual sales of 254 million and net income of 28 million in 2017. Sales increased at 106 per cent per annum during the 2015-17 period, while net profit grew at 102 per cent.
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European private equity firm EQT Partners has entered an agreement to acquire 10% primary shares of Chinese third-party payment service provider VBill.

EQT Partners to acquire 10% stake in Chinese third-party payment firm VBill

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EQT Partners to acquire 10% stake in Chinese third-party payment firm VBill

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