Global payment orchestration platform CellPoint Digital raised $25 million from Toscafund and its private equity arm, Penta Capital, according to a press release on Wednesday (Jan. 5).
The fresh infusion of capital will be used to help CellPoint Digital expand on a global level while strengthening its recent move into new markets, including retail, gaming, cryptocurrency, and digital content. The company is among the market leaders in payment orchestration for travel.
“The past few years have seen extraordinary growth for CellPoint Digital. We continue to experience strong demand from a range of enterprises wishing to optimize their digital payment and commerce solutions, while countering the major challenges they face with existing providers to deliver quickly and cost-efficiently,” said CellPoint Digital CEO Kristian Gjerding.
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“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,” Gjerding said.
Toscafund and Penta Capital initially backed CellPoint Digital in 2019 and this new funding brings their total investment in the company to over $56 million. The new investment also further supports the relationship between the businesses.
Read more: Payment Orchestrators Address Friction On Business Side Of Transactions
Steven Scott, founding partner of Penta Capital, said CellPoint Digital will help solve a major problem businesses grapple with: “the optimization of a customer’s entire path to purchase across all their digital channels.”
He added that CellPoint Digital continues to land “key new clients” as it forges ahead into new industries.
CellPoint Digital orchestrates payments across regions and payment methods and enables merchants to embrace a multi-acquirer payments model, which can generate new growth alternatives.
The company strives to help companies boost top-line revenue with intelligent routing and system uptime transparency. It also lowers the operation expense of accepting cross-border payments and delivers a smooth checkout experience.
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