Payments company Nets, part of Nexi Group, is selling its digital invoice distribution platform and bill payment solutions business, EDIGard, to AnaCap Financial Partners, a mid-market private equity (PE) investor in the fintech sector.
Founded in 2009, EDIGard is headquartered in Norway and operates across Sweden, Denmark, Finland, UK and Germany. It sits within Nets’ issue and e-security services portfolio.
Its flagship offering is the ediEX invoicing platform that integrates with clients’ enterprise resource planning (ERP) and accounting software. It enables users to optimize the invoicing process whilst also providing wider services such as payment service provider (PSP) integration, payment reminders and invoice reconciliation.
Its target market comprises large enterprises such as banks, utilities, debt collection (low-ticket, high volume, recurring invoices), but it also serves local SMEs via its partner network.
Nets explains the decision to sell the business resulted from a strategic review of the Nexi Group’s perimeter following the completion of the mergers with Nets and SIA.
Rune Løbersli, CEO of EDIGard, says the company has “great scope to continue its recent successes and evolution across the Nordics and further internationalise its offering into additional European jurisdictions” and that AnaCap is the “right partner” to help it achieve this.
Last month, Nets acquired orderbird, a Germany-based point of sale (POS) specialist. Its parent group Nexi has recently agreed to sell its technology businesses that power MTS (Euronext’s fixed-income trading platform) and Euronext Securities Milan to Euronext.