TA and Warburg Pincus Partner to Drive Growth in Epassi Group

ESPOO, Finland-- Funds advised by TA Associates and Warburg Pincus LLC have acquired a majority stake in Epassi Group from Bregal Milestone. Epassi, a market leader for digital employee benefit payments in the Nordics, serves thousands of employers and millions of employees in the region.

Epassi has witnessed significant growth under Bregal Milestone's ownership, expanding its presence across Europe and increasing its customer base and GMV. With this new investment from TA and Warburg Pincus, Epassi aims to accelerate its growth and expand into new markets.

Pekka Rantala, CEO of Epassi, expressed excitement about the investment, stating that it comes at the perfect time to fuel the company's growth plans. He also emphasized the potential of Epassi and its commitment to expanding into new business areas and markets.

Epassi is uniquely positioned at the intersection of employee benefits technology and payments, serving a three-sided network of employers, employees, and merchants. The company's mobile-first digital platform is driving the shift from analog to digital solutions and helping employers enhance their employee well-being and ESG offerings.

Warburg Pincus, known for its global growth investing expertise, sees great potential in Epassi's role as a pan-European leader in digital employee benefits solutions. The firm aims to support Epassi in its future growth journey and expand its market presence across Europe.

TA, another leading global private equity firm, is excited to join Epassi on the next chapter of its journey. With Epassi's robust technology stack and market position in five countries, TA sees significant potential to expand the company's product portfolio and market presence both organically and through M&A.

The transaction between TA, Warburg Pincus, and Epassi is subject to customary closing conditions. The terms of the deal were not disclosed.

Epassi, founded in 2007 in Helsinki, is a market leader in employee benefits within the Nordics, Italy, and the UK. The company provides a user-friendly solution that combines all benefits in one convenient mobile tech and payment service.

With nearly 13 million users, over 13,500 employers, and more than 59,000 service providers, Epassi is Europe's leading digital solution for employee benefits. The company has been recognized as one of the fastest growing companies in Europe by the Financial Times in both 2022 and 2023.

TA Associates, with a history dating back to 1968, is a global private equity firm focused on scaling growth in profitable companies. The firm has invested in over 560 companies across various industries and has raised $65 billion in capital to date.

Warburg Pincus, with more than $83 billion in assets under management, is a leading global growth investor. The firm has a diversified portfolio of over 250 companies across different stages, sectors, and geographies.

Bregal Milestone, the majority shareholder of Epassi prior to the transaction, is a technology growth private equity firm that provides growth capital and strategic assistance to market-leading technology companies.

Together, TA and Warburg Pincus, along with Epassi's founder Risto Virkkala, aim to drive Epassi's growth and expand its market presence in Europe. Epassi's success in the employee benefits industry and its commitment to innovation position it well for future expansion and continued success.