Private Equity-Backed Payments & Fintech Acquisitions

Solutions by Text (SBT) has acquired Triple Play Pay (TPP) to expand its FinText payments and embedded commerce capabilities, combining SBT's compliance-first conversational commerce with TPP's payment orchestration and PayFac onboarding capabilities. The deal (terms undisclosed) adds ACH, card, and mobile wallet acceptance, faster merchant onboarding, fraud and transaction monitoring, and enhanced reporting to SBT's platform to accelerate embedded payments for consumer finance customers.

Great Hill Partners has made a strategic growth investment in Ren, a leading donor-advised fund (DAF) technology and philanthropic infrastructure provider, to support product innovation, operational scale, and market expansion across financial advisors, wealth managers, and philanthropic institutions. Financial terms were not disclosed; Great Hill partners Nick Cayer, Matt Vettel, and Bob Anderson will join Ren’s board alongside existing representatives from Bain Capital, Valeas Capital, and Amy Danforth, while Bain Capital Tech Opportunities remains a significant shareholder.

TPG acquired a majority interest in AvidXchange in a take-private transaction valued at approximately $2.2 billion, with Corpay purchasing a 34% minority stake for about $550 million. The deal will make AvidXchange a private company as TPG leads efforts to accelerate growth while Corpay partners strategically to expand payments and AP automation capabilities.

Payroc has completed its acquisition of BlueSnap, the Boston-based payment orchestration and accounts-receivable automation platform; the deal was first announced with a definitive agreement on July 31, 2025 and closed in October 2025. The BlueSnap technology and team will operate as part of Payroc, combining Payroc's direct-connect acquiring capabilities with BlueSnap's API-first orchestration to expand cross-border CNP acceptance, embedded invoicing and AR automation.

Riata Capital Group, a Dallas-based private equity firm, has made a strategic growth investment in Government Window, a Kennesaw, Georgia-headquartered cloud-based payments platform serving state and local governments. The investment will support Government Window's geographic expansion across the U.S. and continued product buildout of its payments software and related services.

Funds managed by Lovell Minnick Partners have made a strategic growth investment in Valor PayTech, the point-of-sale software and payment technology provider. Valor will remain led by CEO Eric Bernstein and will use the capital and LMP's operational support to scale operations, accelerate innovation, and pursue strategic investments and acquisitions.

Funds managed by Lovell Minnick Partners (LMP) have completed a majority acquisition of Merchant Industry, a U.S.-based fintech payments company. Founders retain a substantial minority stake and LMP appointed Vaden Landers as CEO to lead a growth and capability expansion strategy focused on distribution expansion and strategic M&A.

Informativ, a Capstreet-backed provider of fraud prevention, compliance, and credit technology for the automotive industry, has acquired Carmatic, a payments-as-a-service platform that delivers real-time, transaction-ready loan and lease payments. The deal brings Carmatic's VIN-level payment engine and decisioning capabilities into Informativ's suite to accelerate transactions, reduce risk, and expand payment/product capabilities for dealers and channel partners.

Marlin Equity Partners’ portfolio company Marcura has acquired Brightwell Navigator, the maritime crew payroll and payments division of Atlanta-based Brightwell Payments Inc. Brightwell Navigator will be merged into Marcura to strengthen its embedded payments and crew payroll capabilities, creating a leading crew payments solution serving over 150,000 seafarers per month.

LLR Partners has made a strategic growth investment in ePayPolicy, joining existing investor Serent Capital to support the company’s next stage of product and go-to-market expansion. The capital will be used to accelerate product innovation, bolster sales and customer support, and continue organizational buildout to better serve insurance industry customers.

RealPage has acquired Livble, a provider of flexible rent payment solutions, and will integrate Livble into its LOFT resident experience platform and Buildium property management software. The integration will allow residents to split rent into up to four installments per month while RealPage assumes non-payment risk, improving payment flexibility for renters and guaranteed on-time rent and reporting for property managers.

365 Retail Markets, a portfolio company of Providence Equity Partners, has entered into a definitive agreement to acquire Cantaloupe, Inc. in an all-cash transaction valued at approximately $848 million. The deal will take Cantaloupe private and combines 365's unattended retail technology with Cantaloupe's payments, hardware and software capabilities to expand product offerings, cross-sell opportunities and global reach in unattended retail and foodservice markets.

Carlyle Europe Technology Partners (CETP), alongside Rabobank’s investment arm Rabo Investments, has made a strategic growth investment in SurePay, a Netherlands-headquartered provider of payment verification and fraud-prevention software. The capital will support SurePay's product expansion and geographic growth across Europe and beyond; the company serves 200+ banks and 750+ corporates and has processed over 10 billion payment checks to date.

Acrisure has signed a definitive agreement to acquire Global Payments’ payroll business, Heartland Payroll Solutions, for $1.1 billion, a deal expected to close in the second half of 2025 subject to regulatory approvals. The acquisition will expand Acrisure’s payroll and HCM capabilities—bringing Heartland Payroll’s ~50,000 clients into Acrisure’s fintech ecosystem and advancing its strategy to broaden financial and back-office offerings for SMBs.

iAltA, a WestCap‑backed private markets infrastructure company, has acquired Verivend, a Buffalo‑based payments and investment‑transactions platform for GPs and LPs. The acquisition (along with Betterfront) will form the foundation of iAltA’s iAltA Private Markets solution to expand payments, investor onboarding and fund lifecycle capabilities.

A consortium led by funds managed by TowerBrook Capital Partners and J.C. Flowers & Co., alongside investors including D Squared Capital, Moneta and Lingotto, has completed the acquisition of Railsr and combined it with Equals Money (recently taken private by the same group). The deal creates one of Europe’s largest embedded finance and BaaS/CaaS platforms, expanding capabilities across multi-currency accounts, FX, corporate cards, and embedded finance infrastructure.

Flex has acquired Maza, a Spanish‑language entity formation and payments app, which will rebrand as Flex Consumer and integrate into Flex’s product suite. Wellington (via Wellington Access Ventures) co‑led an additional $10M equity injection into the combined business and will have a board observer, supporting Flex’s expansion into consumer and solopreneur segments.

Electronic Merchant Systems (EMS), a Cleveland-based payments and merchant services provider, has acquired Oklahoma City-based Peel Payments, a boutique merchant acquirer focused on the petroleum/C-store vertical. The deal broadens EMS's distribution channels and strengthens its capabilities in petroleum and convenience-store payments while providing Peel Payments access to EMS's technology infrastructure and sales network.

TA Associates has completed a strategic investment to acquire the stake in smartTrade Technologies, with CEO David Vincent and the management team investing alongside TA. Keensight Capital has sold its entire stake and Hg has fully exited its majority investment; TA's backing will support product innovation (including AI), geographic expansion and continued SaaS growth.

Audax Private Equity and existing investor Lovell Minnick Partners completed a joint recapitalization of Fortis, a Plano-based embedded payments technology provider, closing on March 11, 2025. The investment will fund product and technology development, accelerate Fortis' M&A (buy‑and‑build) strategy, and support global expansion and infrastructure scaling; terms were not disclosed.

Primus Capital has made a strategic growth investment in Reach, a Calgary-based Merchant of Record (MoR) provider. The capital will be used to scale operations, accelerate Reach's product roadmap (payments, tax compliance, and fraud protection) and expand its global entity network to support enterprise and mid-market merchants.

Investcorp has signed a definitive agreement to acquire Epipoli, a Milan-based alternative payments enabler, from Bregal Milestone and Epipoli founder Gaetano Giannetto (who will remain a significant minority shareholder and continue to lead the company). Terms were not disclosed; Investcorp said it will support Epipoli’s growth by building out its payments and services platform and expanding its international presence.

Thunder Bridge Capital Partners IV, Inc. completed a business combination with Coincheck Group N.V., resulting in Coincheck becoming a Nasdaq-listed company under the ticker CNCK (and CNCKW for warrants). The SPAC transaction generated approximately $31.6 million of gross proceeds to the combined company and positions Coincheck to expand its crypto and Web3 offerings internationally while maintaining its leading exchange position in Japan.

UK-based payments company Sokin has acquired Norwegian payments app Settle Group AS for an undisclosed amount. The acquisition gives Sokin a European EMI licence and additional tech capabilities to expand Sokin Pay across Europe following recent growth capital from Morgan Stanley Expansion Capital.

IXOPAY, a K1 Investment Management portfolio company and payments orchestration platform, has merged with Aperia Compliance, a PCI DSS validation and risk management business formerly part of Aperia Solutions. The combined business—operating as Aperia Compliance, an IXOPAY company—bundles IXOPAY's enterprise tokenization and orchestration capabilities with Aperia Compliance's PCI Level 3/4 services to expand compliance, security and payment capabilities for merchants, ISOs, processors and banks worldwide.

oneZero Financial Systems, a Somerville-based provider of multi-asset trading technology, received a minority growth investment from Golden Gate Capital with existing investor Lovell Minnick Partners remaining in place. The capital will support oneZero's product roadmap, team expansion and M&A-driven growth while founders Andrew Ralich and Jesse Johnson remain largest individual shareholders and continue in executive roles.

CardFlight, a New York–based SaaS payments technology provider, received a minority growth investment from Boston-based growth equity firm WestView Capital Partners to accelerate product development, enhance its SwipeSimple platform, and expand its merchant footprint across the United States. Kevin Twomey of WestView will join CardFlight’s board; financial terms were not disclosed.

Ridgeview Partners, in partnership with The Baupost Group, has made a strategic growth investment in PayRange, a provider of IoT software and payment solutions for unattended retail. Founder and CEO Paresh Patel will remain in leadership with a significant ownership stake; debt financing was provided by Bain Capital's Private Credit Group to support the transaction.

Arcapita and Dgpays (in equal partnership) have agreed to acquire a majority stake in NEOPAY, the UAE-based payment solutions provider, from Mashreq, which will retain a significant minority interest. The deal implies an approximate enterprise value of $385 million and is subject to regulatory approvals; the consortium will support NEOPAY's regional expansion and technology integration.

Resolute Holdings I, LP (and affiliated vehicles) completed the acquisition of a majority interest (approximately 60% of outstanding shares) in CompoSecure, Inc. on September 17, 2024, in a transaction valued at about $372 million. Resolute has appointed David Cote as executive chairman and added several directors to CompoSecure's board; the investment is intended to drive organic growth, operational improvements and diversification of the company’s customer base through M&A.

TPG's The Rise Fund is leading a Series C growth equity investment in BillEase, the Philippines-based consumer finance and BNPL platform, with existing investor Burda Principal Investments participating. The funding — advised exclusively by CICC — will support BillEase's product expansion and scaling to serve more underserved and underbanked Filipino consumers and merchant partners.

BharCap Partners has made a strategic majority investment in Electronic Merchant Systems (EMS), a Cleveland-based merchant solutions and payments provider. Bain Capital Credit and Group 1001 provided senior debt financing and acted as equity co-investors to support the transaction; terms were not disclosed.

Investment funds managed by Morgan Stanley Expansion Capital have acquired a minority stake in UK-headquartered payments fintech Sokin, with additional participation from Gary Marino, Mark Britto, and Aurum Partners. The growth equity investment is intended to accelerate Sokin's product roadmap and support further global expansion while the company continues to operate independently under CEO Vroon Modgill.

Genstar Capital has agreed to make a significant investment in AffiniPay, a provider of practice management software and embedded payments for legal, accounting, and professional services firms. TA Associates will remain a meaningful investor while funds advised by Apax will fully exit; the capital will be used to extend AffiniPay's product suite and accelerate growth across new products and verticals.

Advent International agreed to acquire Nuvei for US$34.00 per share in an all-cash transaction that values the Canadian payments company at approximately US$6.3 billion. Existing major shareholders — Philip Fayer, Novacap and CDPQ — will roll a significant portion of their equity and remain as investors, with Philip Fayer continuing as Nuvei's Chair and CEO; the deal is expected to close in late 2024 or early 2025, subject to regulatory and shareholder approvals.

Marlin Equity Partners signed a definitive agreement to complete a majority growth investment in Treasury Intelligence Solutions (TIS), a cloud-native B2B payments, cash and treasury management software provider. TIS co-founder Joerg Wiemer, Aquiline Capital Partners and management shareholders will retain minority stakes; the deal remains subject to regulatory clearances and customary closing conditions.

A consortium of institutional investors led by Sixth Street — including KKR, Bayview Asset Management and CardWorks, with support from PIMCO and strategic financing from CPP Investments — acquired GreenSky and associated loan assets from Goldman Sachs. The transaction, which deepens GreenSky's partnership with Synovus Bank, closed in March 2024 and transfers control of the point-of-sale home improvement lending platform to the investor group.

Nordic Capital has joined Great Hill Partners as a strategic investor in One Inc, a U.S.-based digital payments platform focused on modernizing insurance payments. The growth equity investment (with significant continuing investment from One Inc's management) will fund product innovation and further scale the Company's payments network and customer expansion.

Financial Information Technologies, LLC (Fintech) completed an asset acquisition of iControl Systems USA, LLC (iControl), adding iControl’s alcohol invoice payments and scan-based trading technology to Fintech’s PaymentSource platform. The deal, which closed in December 2023, expands Fintech’s retail product portfolio and broadens PaymentSource capabilities beyond alcohol to additional retail categories.

Handle.com, a construction payments and lien-management software provider, received a growth-stage investment from Suffolk Technologies, the venture arm of Suffolk Construction. The strategic funding will pair Handle's payment and credit platform with Suffolk Technologies' industry network to accelerate adoption across contractors and material suppliers in the built environment.

Payroc WorldAccess, LLC has acquired SterlingCard Payment Solutions Inc., a Markham, Ontario-based provider of card-present and payment solutions. The deal adds SterlingCard's team of 11 and card-present capabilities to Payroc's Canadian offering, complementing Payroc's existing card-not-present and ACH/PAD services and expanding its presence in Canada.

LoanStar Technologies, a Swarthmore, Pennsylvania–based embedded lending fintech, raised $28 million of growth equity led by Sageview Capital. The round includes investments from Launch CUSO Holdings (Launch Credit Union), TruMark Financial Credit Union, Ben Franklin Technology Partners of Southeastern Pennsylvania, Monarch Strategic Advisors and others to fund product development, sales and marketing expansion, and strategic partnerships.

Objectway, a global FinTech software and services provider, has acquired Nest Wealth, a Canadian digital wealth solutions provider. The acquisition expands Objectway's product capabilities in client onboarding and financial planning and accelerates its market presence across North America and EMEA.

Accel-KKR has completed the carveout acquisition of Accertify from American Express, making the fraud-prevention business an independent private company. Accertify will remain headquartered in Itasca, Illinois and will focus on accelerating growth and product innovation in fraud prevention, chargeback management, and payment gateway solutions with support from Accel-KKR.

New York-based Phalanx Impact Partners has made a strategic growth investment in Dallas-area fintech CollateralEdge to support the company’s expansion of its collateral-enhancement platform for community and regional banks. The investment will help CollateralEdge scale its proprietary portal that automates collateral pricing and underwriting support to increase middle-market lending to underserved communities.

RF Investment Partners provided an additional strategic growth capital investment in portfolio company Allied Payment Network, with Plymouth Growth joining as a co-investor. The funding will support Allied's next-generation infrastructure and product development as the payments provider targets accelerated revenue and transaction growth with banks and credit unions across the U.S.

Talus Pay, a portfolio company of Alvarez & Marsal Capital (A&M Capital Partners), has acquired fintech/mobile-scheduling provider Jobox.ai and B2B payments provider Clarus Merchant Services to expand its payments technology and B2B capabilities. The add-on acquisitions deepen Talus Pay’s capabilities in home and facility services and broader B2B verticals while increasing its scale across merchant customers and payment volume.

Private equity funds managed by Blackstone signed a definitive agreement to acquire a majority (reported ~80%) stake in Sony Payment Services Inc. from Sony Bank (part of Sony Group), with Sony Bank retaining a minority roll‑over. The deal — reported at roughly $280 million for an 80% stake — marks Blackstone's first investment in Japan's fintech/payments sector as it seeks to expand its Japan private equity portfolio and support SPSV's growth through technology and talent investment.

Housatonic Partners, a San Francisco-based private equity firm, has made a strategic growth investment in eCard Systems, a Brentwood, Tennessee provider of outsourced gift card programs and processing services. The capital will support expansion of eCard's sales, marketing, technology and production capabilities; financial terms were not disclosed. Canaccord Genuity and Kroll Securities acted as financial advisors to eCard Systems.

Milestone Partners, a private equity firm focused on technology-enabled services and financial solutions, has acquired CDE Services LLC, a provider of integrated payment processing and ancillary POS services. The transaction was supported by strategic capital and credit commitments from LO3 Capital, Tecum Capital, and Navigate Capital Partners and is intended to accelerate CDE's product expansion and market share growth in the integrated payments space.