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.”

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.”