Centric takes majority stake in Dutch fintech Twelve
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This strategic move marks a significant milestone for both organizations, combining deep market expertise and a shared vision for the future of retail technology.
Centric, together with investment vehicle Spacetime, will support founder and newly appointed CEO Willem van Kralingen in strengthening Twelve's service offering and accelerating its European growth strategy.
Leader in PoS for the foodservice and hospitality sector
Initially focused on amateur sports clubs, Twelve developed a cashless payment and order management solution easily operated by volunteers on weekends. Underpinned by its user-friendliness, speed and reliability, Twelve successfully expanded beyond sports clubs and now serves large stadiums like the Johan Cruijff Arena, major events such as SAIL Amsterdam and leading caterers like Sodexo. Together with its focus on smaller quick service restaurants, Twelve has become the go-to provider of point-of-sale and order management software for the foodservice and hospitality sector in the Netherlands.
Accelerating European expansion
Currently, Twelve is processing more than 700 million transactions a year in a wide range of establishments. 'We have grown into the market leader in the Netherlands', says Willem van Kralingen, CEO at Twelve. 'Our 15 years of experience together with the added expertise and network of our new partners make us uniquely positioned to expand across Europe starting with Germany, France, Italy and the UK. We already service major stadiums in two of those countries, such as Stade de France and San Siro.'
Investment for strategic growth
For Centric, the acquisition of Twelve enhances its portfolio of retail software solutions. While Centric has traditionally held a strong position with its software solutions in the food, non-food, and logistics sectors, Twelve adds an innovative dimension to retail technology with its PoS solutions tailored to the foodservice and hospitality sector. 'This investment also reinforces our strategic direction,' says Hans van Waaijenburg, CEO of Centric, 'We focus on markets where our in-depth industry knowledge and advanced IT capabilities can truly make a difference for our clients. We actively invest in promising technology companies that enhance our expertise and strengthen our position in these markets. By joining forces with Twelve, we not only accelerate their growth but also solidify our role as a leading IT player in the retail market.'
Twelve will continue to operate under its own brand and organizational structure, maintaining its entrepreneurial spirit and strategic autonomy, while engaging with the broader Centric group on an arm's length basis to benefit from its scale and support.
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