W. A. G. Payment Solutions

W. A. G. Payment Solutions
Company typePublic limited company
LSE: WPS
IndustryFinancial Services
Founded1995; 30 years ago (1995)
FounderMartin Vohánka
HeadquartersPrague, Czech Republic
Key people
RevenueDecrease €2,088.1 million (2023)[1]
Decrease €(27.7) million (2023)[1]
Decrease €(44.0) million (2023)[1]
Total assetsIncrease €1,144.3 million (2023)[1]
Total equityDecrease €262.8 million (2023)[1]
Number of employees
1,000 (2024)[2]
Websiteinvestors.eurowag.com, www.eurowag.com

W. A. G. Payment Solutions, trading as Eurowag, is a business which processes freight and road payments across Europe. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.[3][4]

History

The company was founded by Martin Vohánka as a petroleum trader in the Czech Republic under the name "W. A. G. Group" in 1995.[5] It launched its payment services platform, which operated under the trade name of "Eurowag", in 2000.[6] As of May 2021, the company was owned 59.1% by Vohánka and 32.7% by TA Associates.[7]

The company was the subject of an initial public offering on the London Stock Exchange in October 2021.[8][9][10] In November 2022, the company acquired WebEye, a telematics business.[11] In April 2022, it collaborated with a Fintech company, Factris, to offer "Eurowag Cash". Eurowag Cash enables customers to factor their customer invoices.[12]

Operations

The company processes fuel and toll payments for heavy goods vehicle drivers across Europe.[13][14]

References

  1. ^ a b c d e "Annual Results 2023" (PDF). W. A. G. Payment Solutions. Retrieved 26 March 2024.
  2. ^ "Our People". W. A. G. Payment Solutions. Retrieved 13 February 2024.
  3. ^ "Meggitt (UK): Constituent Deletion - Update Changes in FTSE UK Index Series". FTSE Russell. 8 September 2022. Retrieved 8 September 2022.
  4. ^ "Frasers to finally return to FTSE 100, replacing outbound Meggitt". Morning Star. 8 September 2022. Retrieved 12 September 2022.
  5. ^ "Listings have a real sinking feeling". The Times. 9 October 2021. Retrieved 8 September 2022.
  6. ^ "Prospectus" (PDF). W. A. G. Payment Solutions. Retrieved 8 September 2022.
  7. ^ "TA Associates plans London IPO of $2 billion Czech payments firm Eurowag". Reuters. 27 May 2021. Retrieved 8 September 2022.
  8. ^ "Payment group Eurowag slides on stock market debut". The Times. 9 October 2021. Retrieved 8 September 2022.
  9. ^ "Transport payment platform Eurowag to go public in London". Silicon Republic. 13 September 2021. Retrieved 8 September 2022.
  10. ^ "Lack of truck drivers spikes Eurowag's price". Tech Smart. 30 September 2021. Retrieved 8 September 2022.
  11. ^ "Allen & Overy and Satori, Lutter and Partners Advise on Eurowag's Acquisition of WebEye Telematics". CEE Legal Matters. 10 December 2021. Retrieved 21 September 2023.
  12. ^ "Factris partners with Eurowag to launch new financial product". The Paypers. 29 March 2022. Retrieved 8 September 2022.
  13. ^ "Eurowag shares fall as conditional dealings begin in London". Morning Star. 8 October 2022. Retrieved 8 September 2022.
  14. ^ "Key Players in the EU Payments Landscape" (PDF). Deloitte. 2022. p. 120. Retrieved 8 September 2022.