Leikbreytir ehf. an Icelandic based Technology company has signed an agreement to acquire all share capital in the German company Passcreator GmbH, a leading provider of digital card solutions for Apple, Google and Samsung Wallet. Passcreator was founded in 2012 in Munich, Germany, where the company’s headquarters are located. The company was established to develop solutions around Apple Passbook (now Apple Wallet) and has, since its founding, worked closely with Apple and Google. The merged entity will have staff of just over 20 across 5 locations in an equal number of countries. Passcreator currently serves around 500 customers in 50 countries, with about 8 million users worldwide using Passcreator’s solutions. This customer base will be added to Leikbreytir’s customers.
The combined company will market its products and services under the Passcreator brand. The Passcreator brand will offer two main service lines, Passcreator Basic and Passcreator Enterprise, where Leikbreytir’s Fintech ecosystem solution for gift, customer, and loyalty cards will be a key product of the new range, along with Passcreator’s bespoke solutions for insurance companies and organizations requiring maximum capacity due to the number of cards, often numbering in the hundreds of thousands to millions of users at individual customers.
Passcreator GmbH is offering a specialized cloud-based solution where users can self-register, integrate with their own systems, and issue, manage and analyze electronic cards in Apple and Google Wallet, along with various services such as corporate cards, employee cards, stamp cards for restaurants, event tickets, digital proof of insurance, and more bespoke options that customers can manage themselves within Passcreator’s cloud solution. Passcreator is ISO 27001:2022 certified that the company operates under. Leikbreytir has developed a fintech ecosystem to issue gift, loyalty, and corporate cards and has been a partner of Passcreator for years, utilizing their cloud solutions for issuing cards in Apple and Google Wallet.
Key customers of Passcreator GmbH include Europe’s largest insurance companies, Mercedes-Benz Consulting group, and the Academy Awards (the Oscars), among others.
“With the purchase we take a giant step into international markets for our solutions, instead of building markets from scratch which would be time-consuming and require substantial capital. In the merged company, there will be significant growth opportunities, as both companies operate in a hugely large and fast-growing market where demand is high for direct and more cost-effective touchless solutions. There is great synergy in the acquisition that increases the companies’ ability to sell with an expanded and deeper set of service lines. Leikbreytir’s solutions will be introduced to Passcreator’s existing customers and marketed to the large number of parties that use Passcreator’s cloud solution each month, as the Passcreator system offers strong scalability and faster, more efficient marketing.” says Yngvi Tómasson, CEO of Leikbreytir.
“We have worked closely with Leikbreytir in recent years and have seen the fintech ecosystem of Leikbreytir grow and develop with great vigor, and thus these are tremendously exciting times ahead with Leikbreytir’s acquisition of Passcreator, and the subsequent combined product offering under the Passcreator brand.” says David Sporer, Founder of Passcreator, who will continue to work at the merged company.
Many of the Icelands largest retail companies have chosen Leikbreytir’s fintech ecosystem to manage their gift, customer, and loyalty cards, and the solution is well-suited for stores, retail chains, and shopping centers. The solution enables service providers to issue gift, loyalty, customer, request, and staff cards in both traditional paper format and in Apple and Google Wallet. The cards can be used to pay for goods at the point of sale where the system is integrated with leading POS and e-commerce platforms. Among the customers using the solutions are Kringlan (the Mall), Byko, Orkuna (Formerly Shell), Samkaup, Haga, Reykjavík City, and Kvika Bank.
In early 2025, over 530,000 gift cards had been issued within Leikbreytir’s fintech ecosystem, with a value of $60,863,000 USD and in 2024 around 250,000 transactions were processed through the system.
The Icelandic Media covered the news today:
https://www.mbl.is/vidskipti/frettir/2025/08/20/leikbreytir_kaupir_leidandi_fyrirtaeki_i_rafraenum_/
https://vb.is/frettir/leikbreytir-kaupir-thyska-felagid-passcreator/
Picture:
David Sporer – Passcreator Founder and Yngvi Tómasson CEO and founder of Leikbreytir
