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Sysnet secures growth equity from FTV Capital and True Wind Capital

SysnetDublin-based cybersecurity and compliance solutions provider Sysnet, announced the receipt of growth equity investment, led by FTV Capital, a growth equity firm and True Wind Capital, a technology-focused private equity firm, co-invested in the round. The funds will be used to support Sysnet’s rapid growth in North America and Europe, as well as expansion into new markets, including Latin America and Asia. It plans to accelerate the development of its security product offerings to SMBs via acquiring and payment processing organisations globally. The Proactive Data Security (PDS) solution is used by acquirers to drive more secure environments for SMB customers.

Gabe Moynagh, CEO, Sysnet articulated, “FTV is a perfect fit for Sysnet given its knowledge of security and payments, Global Partner Network and proven ability to scale high-growth companies. Further, True Wind is a seasoned technology, software and security investor, providing decades of operational, growth and scaling expertise to technology companies. Their combined investment will enable us to deepen our strategic relationship with our clients and their customers through the enhancement of our security product offering and customer support globally…”

As part of the transaction, Richard Garman, Founding Partner, FTV Capital, Kyle Griswold, Partner, FTV Capital, Richard Liu, Principal, FTV Capital, Jamie Greene, Founding Partner, True Wind and Sean Giese, Partner, True Wind will join Sysnet’s board of directors.

Richard Garman, Founding Partner, FTV Capital enunciated, “Sysnet is revolutionizing the way merchants meet payments standards across the globe.”He further mentioned, “With this investment, FTV Capital will use its security market experience and network to accelerate Sysnet’s innovations for the global transaction service industry.”

Jamie Greene, Founding Partner, True Wind Capital revealed, “We are at an exciting inflection point of Sysnet’s development. True Wind looks forward to partnering with both Sysnet’s management team and FTV to achieve this next stage of growth.”

Sysnet provides merchant compliance and security management solutions to global acquiring organisations that support more than 3 million merchants and operate in over 60 countries.

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