Alpha-Cash acquired by heidelpay for PoS action
The AnaCap-backed heidelpay Group, a German fintech, has acquired point-of-sale (PoS) specialist Alpha-Cash Payment.
Alpha-Cash is now subordinate to heidelpay
This is heidelpay Group’s second investment in 2019 following the acquisition of “PayLater” and collection specialist Universum Group in late January.
The financial details for this arrangement were not disclosed.
“Bricks-and-mortar retailing and e-commerce are increasingly converging. Payment service platforms now need to provide a seamless, omnichannel payments experience across e-commerce and PoS thus enabling retailers to offer their customers a truly satisfying shopping experience,” says Mirko Hüllemann, founder and CEO of the heidelpay Group.
He adds: “The purchase of Alpha-Cash strengthens our position in this extremely fragmented area of PoS and expands our presence in the east and north-east of Germany respectively.”
The acquisition of Alpha-Cash, the debit and credit card terminal specialist, based in Rostock and Leipzig, is aimed at accelerating the heidelpay Group’s growth, which shows revenue and EBITDA increasing 41% and 93% from FY17 to FY18.
Alpha-Cash Payment is now the third company within the heidelpay Group allowing cashless payments to be transacted at the PoS, following Hamburg-based StarTec Payment and Service back in October 2017; and Avanti Technology Graf, the commercial network provider in the Munich region, in May 2018.
