Equistone Partners Europe has signed an agreement to acquire a majority stake in Small World Financial Services, an international, U.K.-based cross-border payment service provider.

Small World's investors, including FPE Capital and MMC Ventures, will sell their shareholdings in the company as part of the transaction, with management reinvesting for a minority stake, according to a press release. The financial terms of the deal are undisclosed and, as Small World is regulated in multiple countries, completion of the transaction remains subject to regulatory approvals.

Small World's technology-driven platform enables customers to make cross-border payments via its physical network of over 6,000 third-party send-side agents and 80 branches. The company also has mobile app and online portals.

"Demand for cross-border payments is increasing due to macro-demographic trends, and Small World's high-quality customer proposition and scalable business model position it to achieve further organic and acquisitive growth," Andrew Backen, partner at Equistone Partners Europe, said in the release. "Equistone has a successful track record of investing in financial services businesses in the U.K. and internationally, and we are excited about working with Nick and his team to support the company's continued development."