Private equity firm AnaCap Financial Partners has agreed to acquire a controlling stake in German online payment firm Heidelpay.

As part of the deal, Heidelpay’s co-founders and existing management will retain a minority stake in the business.

Heidelpay, which was founded in 2003, serves over 14,500 primarily online businesses across the DACH and Benelux regions.

It processes transactions across more than 200 payment methods, covering online, mobile and point-of-sale channels.

AnaCap director Tassilo Arnhold said: “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.”

Heidelpay founder and CEO Mirko Huellemann 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, fast- growing 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.”

Completion of the acquisition is subject to approval by the Federal Financial Supervisory Authority, the German Federal Bank and the Luxembourg Financial Supervisory Authority.