PACE Telematics GmbH

PACE Telematics GmbH specializes in mobile payment solutions for the fuel retail market, particularly through their PACE Drive App, enabling seamless transactions at gas stations. Founded in 2015 and headquartered in Karlsruhe, Germany, PACE Telematics GmbH innovates in mobile payment technologies tailored for fueling operations. Founded by Philip B and Robin Schoenbeck, the company focuses on enhancing refueling experiences through digital solutions. In September 2020, PACE Telematics was acquired by DKV MOBILITY SERVICE GmbH + Co.

KG, a portfolio company of CVC Capital Partners, though financial details of the acquisition were undisclosed. PACE Telematics offers innovative mobile payment solutions specifically designed for the fuel retail market, exemplified by their flagship product, the PACE Drive App. This application allows users to pay for fuel directly at the pump, eliminating the need to queue at the register and providing digital receipts directly to their mobile devices. The company also features the APP&GO digital fuel card, which allows customers to confirm their refueling transactions seamlessly via smartphone.

These solutions cater to a broad customer base, including fuel station operators, automotive manufacturers, and app providers, enhancing the user experience by integrating with the open Connected Fueling platform. PACE Telematics primarily serves markets across Germany and Northern Europe, facilitating a modern and efficient refueling process for consumers and businesses alike. Revenue generation for PACE Telematics is structured around partnerships with fuel retailers and service providers, enabling mobile payment functionality at various gas stations. The company operates through a transactional model where fuel station operators and app providers integrate PACE's technology, which may involve revenue-sharing agreements or transaction fees per payment processed.

Clients benefit from the ease of use and efficiency of PACE's solutions, which streamline the payment process and enhance customer satisfaction. In addition to direct B2C transactions through their apps, PACE engages in B2B partnerships with various stakeholders in the automotive and fuel sectors, promoting their mobile payment systems as an essential service in the evolving landscape of connected vehicles and digital payment solutions. Looking ahead, PACE Telematics aims to expand its product offerings and penetrate new markets. Plans include developing advanced features for their existing applications and exploring opportunities in untapped European markets by the end of 2023.

The funding received from the acquisition by DKV MOBILITY SERVICE GmbH + Co. KG will facilitate these initiatives, allowing for increased investment in technology and market expansion efforts.