An international private equity fund engaged Heigard to evaluate a significant acquisition target: a rapidly growing Polish payment-processing platform. While the target’s growth looked impressive, the investors were concerned about the scalability of the underlying technology and the defensibility of the platform’s market share against global tech giants entering Central Europe.

Heigard conducted an exhaustive commercial and technical due diligence process. We moved beyond surface-level metrics to perform granular analysis of the platform’s user retention data and tech-stack efficiency. We focused on the competitive landscape to determine if the target’s proprietary algorithms offered a genuine moat against international competitors.

The insights provided by Heigard gave the fund the confidence to finalise the €60m acquisition. Following the deal, the fund implemented the strategic roadmap we designed to transition the company to a fully cloud-native architecture. This intervention resulted in a 36% increase in EBITDA within three years, positioning the tech asset for a high-value exit to a global strategic buyer.