Swedbank PayEx Holding AB
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Swedbank PayEx Holding AB - overview
Established
1972
Location
Stockholm, -, Sweden
Primary Industry
Financial Services
About
PayEx Group is a financial services provider specializing in payment solutions, ledger management, and factoring services, aimed at optimizing cash flow and invoicing processes for businesses of all sizes. Founded in 1972 in Stockholm, Sweden by Max Hansson, PayEx Group focuses on delivering specialized financial solutions. Since 2017 PayEx Group is a wholly owned subsidiary of Swedbank. In October 2025, Xendit, a portfolio company with backing from multiple prominent venture capital firms, acquired PayEx Group.
The financial terms of the deal were not disclosed. PayEx Group specializes in a range of financial solutions, primarily focused on ledger management, factoring, and payment services. Its core offerings include PayEx Ledger & Financing and Swedbank Pay, which streamline invoicing and enhance liquidity for businesses. The PayEx Ledger & Financing services enable efficient management of billing cycles, while factoring services provide immediate cash by converting receivables.
Swedbank Pay delivers comprehensive online payment solutions for e-commerce, facilitating seamless transactions for various retailers and service providers across Sweden, Denmark, Norway, and Finland. PayEx generates revenue through transaction fees on payment processing, service fees for invoicing and debt collection, subscription models for retail financing and loyalty programs. Following its October 2025 acquisition by Xendit, PayEx is poised for a transformative growth phase under the new brand Xendit Malaysia. The integration enables PayEx to leverage Xendit’s regional technology stack and operate under its Bank Negara Malaysia license, offering end-to-end payment solutions across Southeast Asia.
Current Investors
Xendit
Primary Industry
Financial Services
Sub Industries
Credit Collections & Services, e-Financial
Website
www.payex.com/
Verticals
Big Data, Cloud Computing, FinTech, FinTech
Company Stage
Add-on
Total Amount Raised
Subscriber access only
Swedbank PayEx Holding AB - timeline of key events
Swedbank PayEx Holding AB - financials
| Fiscal Year Ended | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 671,300,000 | 669,737,000 | 680,064,000 | 698,934,000 | 695,626,000 | 685,066,000 | 51,661,000 | 57,208,000 | 38,495,000 | 5,273,000 | 48,664,000,000 | - | - | - |
| % Revenue Growth (YoY) | - | (0.2%) | 1.5% | 2.8% | (0.5%) | (1.5%) | (92.5%) | 10.7% | (32.7%) | (86.3%) | 922790.2% | - | - | - |
| EBITDA (USD) | 60,763,000 | 89,972,000 | 78,569,000 | 90,647,000 | 80,485,000 | 115,721,000 | 8,423,000 | 3,698,000 | (555,000) | (1,871,000) | 27,448,000,000 | - | - | - |
| Operating Income (USD) | 22,280,000 | 52,411,000 | 20,905,000 | 45,624,000 | 29,395,000 | 77,583,000 | 5,794,000 | 1,069,000 | (3,184,000) | (4,500,000) | 25,817,000,000 | - | - | - |
| Operating Margin | 3.3% | 7.8% | 3.1% | 6.5% | 4.2% | 11.3% | 11.2% | 1.9% | (8.3%) | (85.3%) | 53.1% | - | - | - |
| % EBITDA Margin | 9.1% | 13.4% | 11.6% | 13.0% | 11.6% | 16.9% | 16.3% | 6.5% | (1.4%) | (35.5%) | 56.4% | - | - | - |
| NET Income (USD) | (14,920,000) | 35,625,000 | 12,696,000 | 101,191,000 | 79,571,000 | 62,422,000 | 4,325,000 | (2,813,000) | (833,000) | (6,509,000) | 20,872,000,000 | - | - | - |
| % Net Margin | (2.2%) | 5.3% | 1.9% | 14.5% | 11.4% | 9.1% | 8.4% | (4.9%) | (2.2%) | (123.4%) | 42.9% | - | - | - |
Swedbank PayEx Holding AB - employee data
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