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January 6, 2022

CellPoint Digital raises $25m to boost expansion

By Johney Amala

CellPoint Digital, which specialises in digital commerce and payment solutions, has raised $25m in an equity financing round from Toscafund and its private equity arm, Penta Capital.

Toscafund and Penta Capital, which first invested in CellPoint in 2019, invested a total of $56m in the firm to date.

The fresh capital will be leveraged by CellPoint to accelerate its global expansion and support its entry to new markets, including retail, gaming, crypto and digital content.

As a payment orchestrator, the firm enables merchants to embrace a multi-acquirer payments model by increasing top-line revenue utilising intelligent routing and authorisation.

It is also claimed to provide system uptime transparency and minimise the operation cost of accepting cross border payments.

Commenting on the fundraising, CellPoint Digital CEO Kristian Gjerding 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.”

Separately, Accounts Payable (AP) Payments-as-a-Service company Finexio closed its double over-subscribed $10m funding to help financial institutions and procurement software platforms meet the customer demand for digital AP business-to-business (B2B) payments services.

The round was joined by new investor Mendon Venture Partners and Finexio’s lead investor Patriot Financial Partners among others.

The firm currently provides white label payment solutions to global procurement and accounts payable software platforms across various sectors including healthcare, higher education, hospitality, construction, and manufacturing.

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