heidelpay Group, a German payments firm backed by private equity firm AnaCap Financial Partners, has purchased payment service and debt collection provider UNIVERSUM Group.

Frankfurt-based UNIVERSUM focuses on PayLater solutions in DACH for e-commerce merchants.

The takeover of UNIVERSUM is said to accelerate heidelpay’s organic growth rate. Financial terms of the deal were not divulged.

AnaCap agreed to acquire a controlling stake in heidelpay in 2017. The latest deal marks the fifth bolt-on acquisition by heidelpay since that deal.

AnaCap managing director Tassilo Arnhold said: “This add-on acquisition is the fifth in rapid succession for heidelpay and is another important strategic milestone in our drive to create a market leading, omni-channel and multi-jurisdiction payment solutions provider in the DACH region.

“The payments landscape in the EU remains hugely exciting and is seeing rapid consolidation of a highly fragmented industry as well as the application of technological innovation to capture market share and generate value.”

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Under the agreement, UNIVERSUM’s FlexiPay offering will be incorporated as part of heidelpay’s product suite.

heidelpay founder and CEO Mirko Hüllemann said: “UNIVERSUM and heidelpay have an established track record of working together in a close and successful manner – so the takeover was a logical next step for both parties.”