Advent International agrees to buy myPOS

• London-based myPOS around 170,000 merchants in continental Europe
• Laurent Le Moal, former CEO of PayU and VP at PayPal, joined as chairman of Circle
• Advent is a global private equity investor based in Boston, Massachusetts

Advent International has agreed to acquire myPOS, a payments service provider, through its newly formed payments and technology platform AI Circle.

London-based myPOS provides a suite of payments, accounts and cards services for small merchants and sole traders. It serves around 170,000 merchants in continental Europe across multiple sectors – including food & beverages, professional services, retail and transportation.

Laurent Le Moal, former CEO of PayU and VP at PayPal, has joined as chairman of Circle.

Circle will support myPOS’ current management team in growing the customer base while preserving the differentiated business model and the competitive value proposition, according to a release.

The firm aims “to create a truly differentiated digital platform with the ambition to be both market leading and able to support the real economy by helping smaller businesses to flourish,” said Fabio Cali, director at Advent.

The transaction, subject to regulatory approvals, is expected to close in Q4 2023.

Advent is a global private equity investor based in Boston, Massachusetts. The firm has invested over  $6.6 billion in 17 payments and fintech companies since 2008. Its recent investments in the sector include Mangopay, Medius, Thredd and Planet.