Global investment firm KKR has acquired a majority stake in heidelpay, a German fintech services provider, from private equity firm AnaCap.
heidelpay was founded in 2003 and provides payment processing services to online and face-to-face retailers and marketplace operators. It focuses on SMEs and corporates and currently has more than 30,000 customers.
During AnaCap’s investment, heidelpay accelerated the development of its omni-channel platform, range of payment products, and proprietary technology. It made seven bolt-on acquisitions.
KKR will help heidelpay to grow both organically and through strategic mergers and acquisitions, continuing the buy-and-build strategy initiated by AnaCap.
Mirko Hüllemann, the founder and CEO of heidelpay, will remain a long-term shareholder in the business along with other key managers.
Hüllemann 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.”
Daniel Knottenbelt, Member and Head of EMEA Financial Services at KKR, added: “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."