heidelpay, a Heidelberg, Germany-based full-service payment provider, received a majority investment from KKR.
The financial details of the transaction, subject to approval by the German Federal Financial Supervisory Authority, the Commission de Surveillance du Secteur Financier (CSSF) and other customary closing conditions, were not disclosed.
In the deal, majority shareholder AnaCap Financial Partners, a European financial services specialist investor, sold a stake in the company.
The company intends to use the funds to continue to grow expanding its market share across the payments value chain, both organically and through strategic M&A, continuing the buy-and-build strategy initiated by AnaCap who completed seven bolt-ons, and technology platform and product innovation roadmap.
Founded in 2003 by Mirko Hüllemann, CEO, who will remain as long-term shareholder with other key managers, heidelpay is a full-service payment provider that offers a complete range of payment processing services to online and face-to-face merchants. The international payment processing specialist uses its own specially developed solutions such as payment via invoice, instalment payment, direct debit, direct payment and prepayment – and those of providers of credit cards or wallet solutions to facilitate payment acceptance on behalf of merchants across various payment methods for e-commerce, m-commerce and at the physical point of sale.
The company, a payment institute authorized by the German Financial Supervisory Authority (BaFin), currently serves more than 30,000 retailers and marketplace operators, focusing on SMEs and corporates.