Limassol-based payments company payabl., has reportedly agreed to sell a 50% stake to private equity firm ECM Partners in a transaction exceeding €100 million. The deal represents one of the largest fintech deals recorded in Cyprus by value.
Ugne Buračienė, payabl.’s Group CEO, will retain the remaining 50% stake and continue leading the company.
Under Buračienė’s tenure, the firm has scaled significantly, delivering triple-digit revenue growth, increasing its headcount tenfold and securing two EMI licenses.
The firm provides payment processing and gateway solutions, including foreign exchange and digital asset on- and off-ramps, among other solutions.
It has established a strong foothold in the retail brokerage sector, serving major players such as XM and eToro.
A Maturing Fintech Hub
For ECM Partners, the deal marks a strategic expansion into fintech. The private equity firm, which has reportedly invested over 1 billion across Central and Southeastern Europe, holds a diverse portfolio covering manufacturing, hospitality and real estate. Its fund arm recently obtained an Alternative Investment Fund Manager (AIFM) licence from CySEC.
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In Cyprus, ECM is best known for consolidating the local healthcare sector to form Ygia Group, the island's largest private healthcare provider.
The acquisition reflects a wider private equity push into payments.
According to data from international law firm White & Case, payments remains one of the most active fintech sub-sectors for mergers and acquisitions across the UK and Europe, with more than 50 deals completed between mid-2024 and mid-2025.
For Cyprus, the transaction signals an important evolution for the island’s tech and financial industry. It marks a clear shift from small, founder-run firms towards mature, institutional-backed businesses scaling across Europe.
