Germany-based Fintech firm Heidelpay Is Seeking Acquisitions, Might Launch IPO

Germany-based Fintech firm Heidelpay is reportedly seeking acquisitions and might launch an in initial public offering (IPO), according to its CEO, Mirko Huellemann.

He recently stated:

“An IPO is of course always an option for fresh capital.”

Huellemann’s comments regarding the firm’s business plans are notably his most detailed yet since the private equity company KKR acquired a majority stake in the payment service provider in 2019.

In an industry where company size makes a big difference, Huellemann notes that Europe is now  home to anywhere between 300 to 400 acquisition targets.

In statements shared with Reuters, the chief executive noted:

“Of those 20 or 30 are certainly interesting for us.”

He pointed out that the price tags of between €2 million and €500 million (£1.69 million to £422.02 million) would be potential fits.

In 2019, KKR had paid a sum of €600 million for a 60% stake in Heidelpay, which then valued the firm at around €1 billion. Huellemann personally has over a 30% stake in Heidelpay.

He says that a stock market listing at some point would be a possibility, however, he did not specify an exact time-frame.

He added:

“An IPO is of course always an option for fresh capital. But KKR just came on board and we have a couple of years of growth ahead of us.”

The firm, like its main competitors Wirecard of Germany, Netherlands-based Adyen, and Sweden’s Klarna, have been able to make a sizeable profit from the significant increase in cashless transactions and widespread purchasing of products and services through e-commerce platforms.

Last year, Heidelpay reportedly managed to double its revenue to €90 million.

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