Galway-based fintech Planet valued at €1.8bn after Eurazeo sells stake

European investment company Eurazeo has sold part of its stake in Galway-headquartered Planet in a deal that values the fintech at €1.8 billion.

The French firm hired Citigroup and Evercore to prepare the sale of the company formerly known as Fintrax last year although this was subsequently put on hold after the collapse in travel arising from the Covid-19 crisis.

The company has now agreed to reinvest and co-control the fintech in partnership with Advent International in a deal that values it at around the price it was looking to sell its stake in Planet for.

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Source: Galway-based fintech Planet valued at €1.8bn after Eurazeo sells stake