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Compass, headquartered in Italy, has strengthened its Purchase Now Pay Later (BNPL) operations by buying a majority stake in HeidiPay AG, an organization specialising in digital platforms for BNPL.
Compass had beforehand acquired a 19.5% stake in HeidiPay in 2022 and its Swiss subsidiary, HeidiPay Switzerland AG, in October 2023.
This acquisition aligns with the event of Compass’s worldwide BNPL platform, HeyLight, which mixes cost and shopper credit score options. The deal helps Compass’s 2023-2026 Strategic Plan, specializing in direct and digital channels and integrating superior threat evaluation capabilities.
Francesco Caso, Common Supervisor of Compass, stated,
Francesco Caso
“The bulk share we’ve got acquired in HeidiPay helps our plans for progress that’s geared in direction of worth, finishing a partnership which for a number of years now has given us a number one position within the innovation of shopper credit score providers.”
He added,
“The method of integrating this experience and cutting-edge technological property into Compass’s multichannel product and repair providing has been enhanced by a extremely strategic acquisition that may allow us to develop our consumer portfolio and leverage new alternatives for progress in worldwide markets.”
HeyLight at present operates in Italy with over 1,200 digital shops and 30,000 factors of sale, and it continues to develop internationally, together with Switzerland. The deal is anticipated to shut by the top of Q2 2025, with negligible affect on Mediobanca Group’s Core Tier 1 capital.
Featured picture credit score: Edited from freepik
