- CellPoint Digital, a payments solutions and digital commerce tools provider, has rasied US$25m in an equity funding round from Toscafund and Penta Capital.
- The move comes after rounds of previous investments in CellPoint Digital by the two organisations – bringing the total amount invested by the companies up to nearly US$60m.
- “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,” said a spokesperson for CellPoint Digital.
CellPoint Digital, a provider of payments solutions and digital commerce tools, has confirmed that it has been funded to the tune of US$25m.
CellPoint Digital, which offers cross-border payments, said that it had received the equity financing from a provider called Toscafund.
Toscafund’s private equality arm, Penta Capital, is also involved.
The development follows an investment by the two organisations in CellPoint Digital back in 2019.
With this initial investment also factored in, the company has now received more than US$56m from the firms.
CellPoint Digital specialises in a number of fields, including travel, digital content and shopping.
It offers a range of services such as intelligent routing, authorisation increases, system uptime transparency, and much more.
In a statement, a senior figure at CellPoint Digital said that the firm’s recent periods of growth had been strong.
Kristian Gjerding, who is the firm’s chief executive officer, went as far as describing the growth as “extraordinary”.
“The past few years have seen extraordinary growth for CellPoint Digital,” he explained.
He went on to say that the company was seeing demand come in from lots of sources.
“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,” he said.
For Penta Capital, meanwhile, a founding partner there said that the company was pleased to be involved in helping CellPoint Digital.
Steven Scott explained: “We are delighted to finance this next stage of CellPoint Digital’s expansion.”
He also said that CellPoint Digital was involved in what he considered to be one of the most important challenges that firms faced: payments.
“The company continues to solve the most critical problem that businesses face today: the optimization of a customer’s entire path to purchase across all their digital channels," he explained.
“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."
If you would like to secure more knowledge about the workings of the online money transfer sector, now’s the time – our reviews pages are on hand to help you get the details that you need.
