KKR to buy majority stake in German payment processing company heidelpay

Fintech industry news : Global investment firm KKR has agreed to acquire a majority stake in German payment processing company heidelpay Group from European financial services specialist investor AnaCap Financial Partners for an undisclosed price.

Mirko Hüllemann, the founder and CEO of heidelpay, and other key managers will stay with the German payment processing company as long-term shareholders.

Established in 2003, heidelpay is a full-service payment provider that offers a variety of payment processing services to online and face-to-face merchants.

The German payment processing company enables payment acceptance on behalf of merchants for various payment methods for e-commerce, m-commerce and at the physical point of sale.

Currently, heidelpay caters to over 30,000 retailers and marketplace operators, with a focus on SMEs and corporates.

During AnaCap’s investment, the German payment processing company is said to have fast-tracked the development of its omni-channel platform, range of payment products, and technology.

KKR to acquire majority stake in German payment processing company heidelpay from AnaCap. Image by Free-Photos from Pixabay.

KKR said that it is committed to supporting the German fintech company in growing its market share across the payments value chain, organically as well as through strategic mergers and acquisitions to continue the buy-and-build strategy initiated by AnaCap which wrapped up seven bolt-ons. KKR is also expected to support the technology platform and product innovation roadmap of the German fintech company.

Commenting on KKR investment in heidelpay, Mirko Hüllemann – Founder and CEO of heidelpay, said: “We set out to become a market leader in omni-channel payment processing across the DACH region and with AnaCap’s powerful support we have reached our goal in a very short time frame. We are very excited to have attracted renowned global investor KKR to support us in the next stage of our growth journey.

“With its long-standing experience in financial services and technology, and its deep international network, we firmly believe that KKR will help us approaching larger customers and shaping the payment landscape globally. In my role as CEO and partner I’m looking forward to working with a fantastic management team in the next years.”

The closing of the transaction, which is subject to approval by the German Federal Financial Supervisory Authority, the Commission de Surveillance du Secteur Financier (CSSF) and other customary closing conditions, is likely to occur in Q1 2020.

KKR will make the investment in the German payment processing company from its European Fund V.

Daniel Knottenbelt – Member and Head of EMEA Financial Services at KKR, commenting on KKR investment in heidelpay, said: “We look forward to working together with Mirko and his highly experienced management team to help heidelpay continue to grow. We see enormous growth potential both organically and through M&A across Europe.

“We will draw on our deep sector knowledge, track record of working with founders, and our expertise through 20 years of investing in Germany to further shape heidelpay’s unique profile.”

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