The Difference between Wirecard and Steinhoff

The Wirecard Scandal

Wirecard is a German payment processor and financial services provider. It was higher valued than any German Bank and viewed as very successful by many German Investors because of a growing revenue.

The Steinhoff Scandal

Steinhoff International is an international retail holding company. Before the scandal it was the second-biggest furniture company in the World after IKEA.

The Difference

From the financial side:

  • Wirecard made up most of the revenue
  • Steinhoff didn’t made up most, but part of the revenue
  • Wirecard was basically one company which hadn’t much to sell
  • Steinhoff had many companies with actual real estate and products — many things to sell

My Opinion

I bought Steinhoff shares after the scandal because I estimated that after selling some of the subsidiaries there would be enough money for paying the creditors and restructuring the company. That process is still ongoing and Steinhoff still exists. Why? Because they simply had more value and the manipulations were in an area where it was possible to pay them down.


This is not investment advice or a buy/sell recommendation. This is my personal opinion and is for information and entertainment purposes only.



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Christoph Miksche

Christoph Miksche


Software Developer and Investor from Germany. Writing about Software, Tech and Investments.