CellPoint Digital, a specialist global provider of digital commerce and payment solutions, has made a strengthened start to 2022, with an equity financing round of $25M provided by Toscafund and its private equity arm, Penta Capital.
The move comes after 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 $56M.
Kristian Gjerding, CEO at CellPoint Digital stated: “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.”
The collaboration bolsters CellPoint Digital as the firm continues to focus on increasing top-line revenue utilising intelligent routing, increasing authorisations, and providing system uptime transparency, and reduces the operation cost of accepting cross border payments.
CellPoint Digital also adds value at 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.
Steven Scott, Founding Partner of Penta Capital, added: “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.”