Thanks to its innovative potential, PEY has recently managed to attract reputable investors through a just concluded seed financing round. They have shown support for the Hanoverian startup with an investment of €300,000: "PEY combines two of the fastest growing areas within the FinTech industry: Bitcoin technology and mobile payment systems. This complemented by a startup and exit experienced founding team made for highly interesting investment, " says investor Marc Junker (among others co-founder of mobileview AG and Investor of Smaato Inc).
Other investors include Frank Biedka (formerly Managing Director of Rocket Internet GmbH and Zalando, an investor in doctape, groupon, eDarling and MyVideo), Hartmut A. Borchers (founder / owner multi-media management GmbH - digital marketing for banks, Management Board 533 AG, Managing Director in PEY GmbH), Jürgen Pleteit (CEO of Die Werke GmbH & Co KG), Olav Vier genannt Strawe (co-founder of 4Com GmbH & Co KG) and Tobias Jankowiak (founder / owner Solar Ranch).
The 533 AG is proud to present it's latest project: PEY, a bitcoin based payments system that is set to revolutionise the way payments are made at stores, restaurants, cafés...
PEY will be operating under the name "crypto terminal UG (haftungsbeschränkt)" and is registered in Germany. The team started at the end of October 2014 by developing custom hardware and software that got distributed to an ever growing number of merchants around it's headquarters in Hanover. This pilot not only helped build a full-functioning test base, but also to create the longest Bitcoin Boulevard in the world.
More information can be found here
In 2011 Ricardo Ferrer Rivero started working closely with Sascha Reuter and tape.io GmbH (doctape) with the goal of revolutionising the way everyone works, consumes & organizes files. In 2012, 533 AG gathered the funds necessary to fuel this vision, made a pre-seed investment and got the company on its feet allowing it to keep on developing the product for a year before the first seed investment.
Today we are happy to announce that doctape has been acquired by Atlassian, owner of the best team collaboration tools currently available. With the deal, the complete team moved to Sydney, Australia to help bring doctape's advanced file management and conversion technology to Atlassian's other products.
Current 533 stockholders will soon be receiving an invitation to a stockholder meeting in order to discuss the details and decide on the utilisation of the proceeds coming from the deal.
We would like to thank the doctape team for doing an amazing job and all our Stockholders for believing in the project and supporting it with their investment. We wish the doctapers an great time on the rest of this incredible journey.
Press release: blog.doctape.com
533 AG plans to invest in and incubate several companies throughout the rest of 2014. As one of the first changes under the direction of Ricardo Ferrer Rivero, newly elected Chairman of the Executive Board, 533 AG will be proposing stockholders a plan to buy-back and subdivide all preferred stock by the end of 2015. This new tracking stock will have a price, receive dividends and be coupled with other conditions related only to the operations of a specific division of the company. These changes will allow 533 AG to invest in different projects at the same time without considerably increasing the risk for existing stockholders. All new preferred stock should be managed digitally as a crypto-security through the counterparty peer-to-peer financial platform — a distributed, open source Internet protocol which is built on top of the Bitcoin blockchain and network. Stockholders will be able to transfer and trade stock freely and securely. We expect these changes to start taking place by the end of 2014.
533 AG is changing it's management structure. Christoph Zimmermann the former Chairman of the Executive Board will be taking up duties as the Chairman of the Advisory Board; Ricardo Ferrer Rivero former Chairman of the Advisory Board will now be Chairman of the Executive Board and Hartmut A. Borchers (also Managing Director at MMM) will accompany him as Executive Board member assisting in all finance related products.
We welcome Christoph, Hartmut and Ricardo to their new positions at the company and wish them lots of success.