Rymarz Zdort advises Aion Bank on purchase of part of Allegro Pay’s consumer debt portfolio

Rymarz Zdort advised Aion Bank (“Aion”) on the purchase of a part of Allegro Pay’s consumer debt portfolio. The completed transaction will strengthen Aion Bank’s position in the fastest-growing sector of the Polish e-commerce market while Allegro Pay (available on Allegro, the most popular sales platform in Poland), will gain additional financing capacity.

The parties have stated that if the investment succeeds, the total balance of unpaid receivables purchased by Aion Bank may amount to up to PLN 2 billion within the agreed terms.

Aion Bank is a BaaS (Banking as a Service) oriented bank with its head office in Belgium operating in Poland via Aion Bank SA Spółka Akcyjna Oddział w Polsce, with its seat in Warsaw on the basis of a branch notification. Aion Bank uses fintech technology based on modern cloud IT solutions provided by Warsaw-based company Vodeno.

Allegro Pay provides payment method Allegro.pl, the largest Polish e-commerce platform.

The Rymarz Zdort transaction team was headed by Leszek Tokarski, a partner in the tax department, who was assisted by senior associates Krzysztof Rembierz and Marek Sikorski.