Herbert Smith Freehills advises Heidelpay on the acquisition of Paysafe's Pay Later business

Herbert Smith Freehills has advised heidelpay Group on the acquisition of Paysafe Pay Later, a specialist for pay-later payment methods, from the Paysafe Group. The transaction is still subject to regulatory approval and is expected to be completed in Q3, 2020. Until then, the two companies will continue to operate as independent organisations.

Paysafe Pay Later (payolution GmbH) develops payment solutions for online and offline commerce.

As part of the international Paysafe Group, a leading specialised payment platform with over 20 years of experience in the online payment business, Paysafe Pay Later offers individual solutions for the DACH region.

heidelpay is one of the fastest growing German tech companies for international payment processing services. With over 17 years of experience in e-commerce and as a BaFin approved payment institution, heidelpay offers companies of all sizes the possibility to carry out worldwide payment transactions. Since 2020 KKR is the majority shareholder of heidelpay Group.

The latest investment by heidelpay is part of the company's strategy to foster its expansion in Europe, and to extend the product range for its own customers in the field of pay later payment solutions.

Herbert Smith Freehills had already advised the heidelpay founders and the investor AnaCap Financial Partners on the sale of a majority stake to the investment company KKR in 2019 (press release here). In 2017, the firm had advised the heidelpay founders on the sale of a majority stake to AnaCap Financial Partners.

The Herbert Smith Freehills team advising heidelpay was led by Dr Nico Abel (Partner, Corporate/M&A) and included Dr Marcel Nuys (Partner, Competition, Regulation & Trade), Kai Liebrich (Partner, Finance), Moritz Kunz (Partner, Employment), Dr Steffen C. Hörner (Partner, Tax), Rüdiger Hoffmann (Counsel, Corporate/M&A), Dr Florian Huerkamp (Counsel, CRT) as well as senior associates Dr Julius Brandt (Corporate/M&A), Dr Hannes Jacobi (Finance), Dr Simone Ziegler (Employment), and associates Mirko Gleitsmann (CRT), Tatiana Guenster and Quenie Hubert (both Corporate/M&A).