AnaCap Financial buys Heidelpay

AnaCap Financial Partners has acquired Heidelpay. Financial terms weren’t announced. Heidelpay, of Germany, is an online payment service provider. AnaCap was advised by Norton Rose Fulbright and EY. Heidelpay was advised by Corestar Partners and Herbert Smith Freehills.


AnaCap Financial Partners (“AnaCap”), the specialist European financial services

private equity firm, has today announced that it has signed an agreement to acquire

a controlling stake in Heidelpay, a leading German online payment service provider

(PSP). As part of the transaction, the Co-Founders and existing management will

retain a minority stake in the business.

Founded in 2003, Heidelpay is a full-service PSP that facilitates payment acceptance

on behalf of online merchants. The platform is 100% proprietary, serving more than

14,500 primarily online businesses across the DACH and Benelux regions, and

processes transactions across more than 200 payment methods, covering online,

mobile and point-of-sale channels.

Heidelpay operates in a fast-growing market driven by the continued expansion of

global e-commerce. Processed volumes globally are estimated to grow by around

17% a year and are likely to reach close to €4 trillion by 2019, while the addressable

market in Europe alone is estimated to be around €154 billion at present.

Heidelpay itself has seen significant expansion over the past three years. It

processes a significant share of e-commerce volumes in its target markets with an

above market CAGR of more than 20% since 2013. Heidelpay intends to grow its

business organically and inorganically, broadening its offering in existing

jurisdictions and across the payments value chain, launching additional products

and functionalities, and potentially entering other select EU markets.

Completion of the transaction is subject to approval by the Federal Financial

Supervisory Authority, the German Federal Bank and the Luxembourg Financial

Supervisory Authority.

This announcement follows AnaCap’s signing last month of an agreement to acquire

the French retail banking operations of Barclays, which will become AnaCap’s sixth

banking platform.

Tassilo Arnhold, Director at AnaCap, commented:

“We are delighted to invest in what is a highly innovative, fast-growing business led

by an ambitious and committed management team with over 20 years’ experience in

the payments industry. Heidelpay operates in a vast and high-growth addressable

market in which there is a scarcity of nimble independent PSP providers, thus

offering an exciting opportunity to capture further market share through investing

in the business and driving the next phase of expansion.”

Mirko Huellemann, Heidelpay Founder and CEO, commented:

“We are extremely excited about partnering with AnaCap for the next chapter of

developing Heidelpay. Over the past years, we have built a fully independent, fastgrowing

and leading German Payment Service Provider. To realise the platform’s full

potential and capitalise on the continued vast market growth opportunity, we are

confident now is the right time to partner with a professional investor. With its deep

expertise in European financial services and proven track record of supporting fastgrowing

companies, AnaCap is the ideal investor for our next stage of development.”

AnaCap was advised by Norton Rose Fulbright and EY. Heidelpay was advised by

Corestar Partners and Herbert Smith Freehills.