CellPoint Digital secures a $25m investment to boost global expansion
By Joy Dumasia
CellPoint Digital, a leading global provider of digital commerce and payment solutions, announced an equity financing round of $25 million provided by Toscafund and its private equity arm, Penta Capital, to build on a series of significant successes in recent years.
The move follows a series of investments by Toscafund and Penta Capital into CellPoint Digital following their initial investment in 2019 and brings their total investment to over $56 million. It also marks a strengthening of the relationship between the businesses. It is now offering its platform to new markets, including retail, gaming, crypto and digital content.
CellPoint Digital allows merchants to adopt a multi-acquirer payments model that opens up new growth opportunities. CellPoint Digital helps increase top-line revenue by utilising intelligent routing, increasing authorisations, providing system uptime transparency, and reducing the operation cost of accepting cross-border payments. CellPoint Digital also adds value at the checkout by delivering a frictionless payment experience, presenting customers with the payment methods they want to use, no matter where they are in the world.
Kristian Gjerding, CEO at CellPoint Digital, said: “The past few years have seen extraordinary growth for CellPoint Digital. We continue to experience strong demand from a range of enterprises wishing to optimise their digital payment and commerce solutions while countering the major challenges they face with existing providers to deliver quickly and cost-efficiently. With a business foundation that is stronger than it’s ever been, the logical next step is to widen our global reach and penetrate new market verticals that stand to be transformed by our solutions.”
Steven Scott, Founding Partner of Penta Capital, said: “We are delighted to finance this next stage of CellPoint Digital’s expansion. The company continues to solve the most critical problem that businesses face today: the optimisation of a customer’s entire path to purchase across all their digital channels. Based on winning key new clients, and with the aggressive growth strategy and penetration into new sectors, we see yet another compelling growth opportunity and look forward to working together with CellPoint Digital’s experienced management team to support this new phase of development.”
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August 12, 2022
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