CellPoint Digital secures £18m to expand payment solutions globally
CellPoint Digital, a London-based fintech company that provides payment solutions, has secured $25m (£18.4m) in funding from Toscafund and its private equity arm, Penta Capital.
The latest equity round brings its total funding raised to $56m (£41.3m). The fintech company will use the funding to accelerate its global reach and enter new market verticals.
Kristian Gjerding, CEO at CellPoint Digital, said: “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.”
CellPoint Digital was founded in Copenhagen in 2007 so that travel merchants could use digital commerce tools to compete in a mobile-first world.
Its Payment Orchestration platform provides a centralised hub for companies to manage multiple payment options across their website, mobile apps and other channels.
The company says it helps increase top-line revenue by optimising the routing of each transaction, increasing conversion rates, and minimising payment costs.
CellPoint Digital also adds value at the checkout by offering various payments method. Currently, CellPoint Digital’s headquarters are in Copenhagen and London. It also has offices in Dallas, Dubai, Miami, Pune and Singapore.
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.”