Press release - 06. March 2023
A team of experts at CMS Reich-Rohrwig Hainz advised the Swiss ABB E-mobility AG on the successful Series A financing round of the Viennese PropTech start-up PAYUCA. The two transaction partners have agreed not to disclose the exact amount of the investment.
Alexander Rakosi, Partner at CMS in Vienna, led the Series A investment on behalf of the Swiss ABB E-mobility AG: “I am very pleased that we were able to successfully support our client in taking this important expansion step together with a new Austrian company. In the initial pace-setting financing rounds especially, sound professional guidance and strategic support are crucial to enable sustainable growth. With our start-up expertise, we can provide appropriate support in all legal areas.”
The CMS core team around partner Alexander Rakosi included lawyer Lisa Oberlechner and associate Thomas Liegl. Jens Winter, Johannes Scharf, Marlene Wimmer-Nistelberger, Andreas Lichtenberger and Shima Babanzedeh (due diligence) and Dieter Zandler (competition law) were also involved as experts.
ABB E-mobility AG is a leading global provider of electric vehicle charging solutions with more than one million electric vehicle chargers in more than 85 markets, over 50,000 DC fast chargers and more than one million AC chargers.
PAYUCA became known for a smart parking app that enables people looking for parking spaces in Vienna to find and use free parking spaces in private underground garages quickly and easily. Together with ABB E-mobility, the business model is to be extended to the digitalisation and electrification of garages.
