PayUp – that works on the electronic transactions field – is hold 100% by Portuguese investors but launching its activity outside Portugal. On the end of the current year, the invoicing is expected to reach 78 million euros, but in three years from now it will rise up to 400 million euros as the company settles its business’s in other countries. The investments projected for 2008 and 2009 will be over 73 millions. The break-even will be reached on 2010, year in which net profits could amount 45 millions.

Poland was chosen for the kick-off. Spain is in the horizon. But the CEO’s goals are even more ambitious. PayUp wants to settle in Romania, Serbia, Montenegro, Bosnia and Bulgaria, countries with a low banking level. This feature favours the electronic payments that PayUp provides trough its payment points: a simple and easy way. But the internationalization goes also on the direction of Turkey, Cape Verde, Algeria, United Arab Emirates, Morocco, and Brazil.

Luís Janeiro disclosed to the journalists that is in negotiations to acquire a Spanish company operating on the same business field which will allow PayUp to operate on Iberia. If this negotiation succeeds, the investment will be over 15 millions. In Poland the company started by presenting invoice payment and mobile top up, but wants to broaden its portfolio to prepaid and other financial services. PayUp’s capital is hold 60,5% by the venture capital fund of BPN, 19,5% by Banco Efisa and 20% by its CEO.