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10/2020

MARKET PAY acquired by ANACAP FINANCIAL PARTNERS

FRANCE Fintech & Payments EV €300–700M

Context

A UK-based private equity organization specializing in financial services has successfully finalized the acquisition of a majority stake in the share capital of the target from its founding retail parent company. This strategic transaction represents a definitive "semi-spin-off," allowing the payment platform to transition from a captive internal unit into an independent, high-growth fintech competitor. The strategic rationale for the move centers on the acquirer’s objective to accelerate the platform’s diversification and market penetration beyond its original retail network. By incorporating institutional capital and specialized sector expertise, the organization reinforces its ability to capture new clients among physical distributors and e-commerce merchants. The partnership is designed to leverage the target’s proven technical operational depth and stable transaction volume to fuel an ambitious expansion strategy. This integration facilitates the professionalization of the firm’s management structure while allowing the founding retail group to remain a significant minority shareholder and strategic partner. The move solidifies the group’s standing as a primary enabler of omnichannel payment transformation in the European digital landscape.

MARKET PAY, which reported an EBITDA margin of [members only] in 2020, is valued in this transaction at an EV/EBITDA multiple of 15x–25x, representing a premium to the average currently observed in the Financial Services sector (12.4x).

-> Deep-dive in Financial Services market trends

Target

Market Pay is a specialized technology organization operating as a comprehensive omnichannel payment platform. Originally incubated within a global retail leader, the entity’s business model is centered on a unified framework that integrates physical point-of-sale (POS) terminals, e-commerce payment gateways, and proprietary credit card management solutions. Its value proposition is anchored in technical operational depth, managing high-volume transaction environments and providing seamless payment experiences across diverse retail touchpoints. Strategically, the firm focuses on the industrialization of payment acceptance for large-scale distributors while developing scalable software-as-a-service (SaaS) solutions for the wider merchant market. By maintaining a robust infrastructure that handles billions of annual transactions, the organization ensures a mission-critical role in the digital and physical commerce ecosystem. The entity prioritizes technical innovation in mobile payments and data-driven fraud prevention to facilitate the structural evolution of the European financial services landscape.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

Above 6x

EV / EBITDA

15x–25x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2020
€25–50M
€10–30M
[members only]
2019
€25–50M
€10–30M
[members only]

Similar deals in Fintech & Payments

Similar deals in Fintech & Payments

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
10/2022PARTNERS GROUPTELEPASSITALYFintech & Payments
10/2021ADVENT INTERNATIONAL / EURAZEOPLANET PAYMENTIRELANDFintech & Payments
11/2020NEXINETSDENMARKFintech & Payments
10/2020THE CARLYLE GROUPCALASTONEUNITED KINGDOMFintech & Payments
08/2020EURONEXTVP SECURITIESDENMARKFintech & Payments
04/2019INFRONTVEREINIGTE WIRTSCHAFTSDIENSTE VWD GROUPGERMANYFintech & Payments
11/2015EURAZEOPLANET PAYMENTIRELANDFintech & Payments
03/2014ADVENT INTERNATIONAL / ATP PEP / BAIN CAPITALNETSDENMARKFintech & Payments
09/2013CVCSKRILL GROUPUNITED KINGDOMFintech & Payments
08/2012EXPONENT PRIVATE EQUITYPLANET PAYMENTIRELANDFintech & Payments

REFERENCES

Valuation range: EV €300–700M

Revenue range: €25–50M

EBITDA range: €10–30M

EV/Revenue range: Above 6x

EV/EBITDA range: 15x - 25x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of MARKET PAY by ANACAP FINANCIAL PARTNERS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: anacap financial partners