Originally founded as GFKL Financial Services AG, the company was a prominent player in the German receivables management market, specializing in the servicing and collection of consumer and commercial debt. In 2015, GFKL was acquired by the private equity firm Permira and merged with the UK-based Lowell Group. This merger created one of Europe's largest credit management and debt purchasing companies. Today, the former GFKL operations are an integral part of Lowell's German business, continuing to provide debt collection and management services under the Lowell brand, with a stated mission of "making credit work better for all."