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UK paytech CellPoint raises $25m to develop internationally

Paytech CellPoint Digital has secured a $25 million funding in an fairness financing spherical.

CellPoint Digital CEO Kristian Gjerding

The funding spherical was supplied by Toscafund and its non-public fairness arm Penta Capital, following a collection of investments by the 2 entities price $56 million since their preliminary funding in 2019.

The UK-based e-commerce and fee options supplier says it’ll use the money to develop into new worldwide markets.

The funding may even help the platform’s growth into new market verticals, alongside its journey, retail, gaming and crypto choices.

By harmonising funds throughout totally different areas and strategies, CellPoint permits retailers to undertake a multi-acquirer funds mannequin.

CellPoint says retailers earn more money due to decrease operational prices for cross-border funds and its frictionless fee answer.

CEO Kristian Gjerding says CellPoint has seen sturdy demand from “a variety of enterprises wishing to optimise their digital fee and commerce options, whereas countering the most important challenges they face with current suppliers to ship rapidly and cost-efficiently”.

“The logical subsequent step is to widen our world attain and penetrate new market verticals that stand to be remodeled by our options,” Gjerding provides.

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