AnaCap Financial Partners has kicked off exclusive negotiations for the purchase of a majority stake in payment FinTech Market Pay in a deal worth roughly €300m.
The private equity investor said it would by the the innovative end-to-end omnichannel payments platform from the Carrefour Group, but noted that transaction is subject to the consultation of works council and to the usual closing conditions.
The deal is expected to complete in the first six months of 2021 and would see Carrefour retain a minority stake in the business.
If the deal is completed, then it would mark AnaCap’s first investment in the French payments ecosystem, following eight acquisitions in the DACH region.
“Market Pay is uniquely positioned at the heart of the deep, fragmented and rapidly developing European payments ecosystem, benefiting from the consumer shift from cash to card and offline to online,” said Nassim Cherchali, partner for M&A at AnaCap.
“AnaCap is uniquely positioned to support the management team and internationalise into new markets across Europe, investing in and securing franchise growth while also implementing our best-in-class technology practices. AnaCap has great experience in the payments space and we are very excited to begin the next phase of growth with Market Pay.”
Frédéric Mazurier, chairman at Market Pay, added, “The Carrefour Group were keen to partner with a company that had a strong track record both in the payments sector and in growing fintech businesses internationally with innovative operational strategies. We believe that AnaCap represent the perfect choice to help us develop and explore new markets outside of the Carrefour Group and we look forward to, pending completion, an exciting new chapter for the company in 2021 and beyond.”
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