Dock Financial S.A. is an e-Money Institution authorized by the Commission de Surveillance du Secteur Financier, Luxembourg. Until previosly, the company was known as Crosscard and was a spin-off of the regulated payment services provider PPRO of former Wirecard manager Philipp Nieland. In 2021, Nieland acquired Crosscard with former Solarisbank and Penta manager Marko Wenthin and rebranded it into Dock Financial, billing itself as a Banking-as-a-Service provider and credit card issuer.
Key Data
| Trading names | Crosscard Viabuy Dock Financials |
| Business activity | Regulated e-Money Institution Payment proccessing Card issuer Banking-as-a-services |
| Domains | www.dock.financial www.viabuy.com |
| Social media | |
| Jurisdictions | Luxembourg, Germany |
| Regulator | Commission de Surveillance du Secteur Financier |
| Related individuals | Philipp Nieland Marko Wenthin |
Short Narrative
Crosscard offers card solutions for large companies on a white-label basis and operates its own B2C brand for prepaid credit cards, Viabuy. According to the company itself, it has issued “several million cards” and would serve a six-figure number of end customers. Allegedly, they generated sales of €14 million in 2021.
The Munich-based Dock Financials recently acquired a 10% stake in the Düsseldorf-based SME financing platform Compeon. Dock Financial is taking over the shares of an existing shareholder. No purchase price has been disclosed.
Since then, the duo has been working on a realignment of the company – supported by fresh capital from London-based growth investor Claret Capital Partners, among others (see here). They say that the strategic and financial alliance with Compeon is just one of the initiatives that the “new” Dock Financial is currently taking.
Compeon is a digital intermediary for SME loans in Germany. Via its platform SMEs can submit loan requests, which are then automatically compared with the financing conditions at banks and other lenders. Compeon receives a commission from the financial services provider if a deal is closed. CEO Frank Wüller puts the volume of loans brokered in the past fiscal year at 700 million euros.
