CellPoint Digital, a provider of digital commerce and payment solutions, has raised £18 million to boost global expansion.
The equity financing round is the latest to be provided by Toscafund and its private equity arm Penta Capital and takes its total investment to over $56m.
Described as a market leader in payment orchestration for travel, CellPoint Digital is now offering its platform to new markets including retail, gaming, crypto and digital content.
By orchestrating payments across regions and payment methods, CellPoint Digital allows merchants to adopt a multi-acquirer payments model and reduces the operation cost of accepting cross border payments.
It 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.
“The past few years have seen extraordinary growth for CellPoint Digital,” said CEO Kristian Gjerding.
“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.”
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.”