AnaCap acquires 60% stake in Carrefour payments platform
Carrefour is set to offload a majority stake in its digital payments platform Market Pay to AnaCap Financial Partners.
AnaCap, a European financial investment firm, will acquire 60% of retail group’s payments arm in a deal valued at around €300m.
Market Pay was developed in-house at Carrefour in 2016, expanding in the intervening years to managing 5m cards and more than a billion annual transactions. Bolstered by Carrefour’s retail dominance in Europe, the payments system operates through a unified data platform to offer a multitude of payments solutions for merchants and fintech firms.
Nassim Cherchali, Partner for M&A at AnaCap, says: “Market Pay is uniquely positioned at the heart of the deep, fragmented and rapidly developing European payments ecosystem, benefiting from the consumer shift from cash to card and offline to online.”
The firm aims to capitalise on the transition from cash to digital payments that has been accelerated by COVID-19, expanding into new markets across Europe and further penetration in ecommerce.
Market Pay in numbers:
- Established in 2016
- 1.3bn transactions handled each year
- 5m cards in use
- 45,000 payment terminals operated
- €30m in net sales expected in 2020
“Exciting new chapter”
Mazurier says the move presents “an exciting new chapter for the company in 2021 and beyond”, and aims to leverage AnaCap’s expertise and substantial investment portfolio in payments ecosystems to further develop the Market Pay platform.
The tie-up marks AnaCap’s first venture into the French market, where Carrefour is based, and follows eight similar acquisitions in the DACH region (Germany, Austria and Switzerland) as part of a buy and build strategy centred around heidelpay, a German payments business that was sold to KKR last year.
The transaction is expected to close in the first half of 2021, pending approval from regulatory and competition authorities, with Carrefour retaining a minority stake.
NFT Marketplace Rarible Raises US$14.2m
Alongside the funding announcement, Rarible has shared that they’ve officially partnered with NBA Top Shot maker Dapper Labs to bring their NFT marketplace to Dapper’s Flow blockchain. Dapper Labs has begun building out a wider coalition of NFT platforms on its proprietary blockchain which is more energy-efficient and less costly than transactions on the Ethereum network.
“To mark this next phase, we are also proud to enter an official partnership with Flow. Dapper Labs has an impressive track record of bringing NFTs mainstream by creating native experiences for non-crypto audiences. As a blockchain, Flow enables easier access and lowers the entry barrier for traditional consumers and brands, which makes it a perfect partner on our journey to the wider adoption.
“In the coming couple of months, we will be bringing Rarible on Flow as a primary and secondary marketplace, also welcoming the robust ecosystem of projects built on Flow blockchain,” Rarible said.
According to the company, last June, 6 months post-launch, total trading volume on Rarible hit the $28,000 mark. By June 2021 it grew by a mind-blowing 3000x, reaching $150 million in total sales.
“Just as we have always been at the forefront of the NFT movement, Rarible is determined to pioneer the next wave,” the co-founder of Rarible’s marketplace and CEO Alexei Falin said. “With this company milestone, we are thankful for the support of Venrock, 01 Advisors, and Coinfund and look forward to going beyond the current enclosed crypto environment and taking NFTs into mainstream consciousness.”
In a blog post the company says they hope to use this funding to explore more user-friendly developments like accepting credit card payments. “We need a world where an indie creator can effortlessly create an NFT and sell it for $5 to his community of supporters, as well as where a pop icon can use NFTs to establish close contact with her multi-million audience in a sustainable way.”
Rarible has a lot underway in the upcoming few months, including the launch of Rarible NFT protocol, L2 solution for scalability and sustainability, credit card payments, adoption of Flow blockchain, multiple partnerships and drops, and more. Many projects are already working on integrations with Rarible protocol, such as the partnership with one-click NFT creator S!NG that allows users to mint and put their NFTs on sale with no costs involved.