E-commerce payments company NMI has received an invested from private equity firm Francisco Partners, which gains a majority share.
Bregal Sagemount has sold its holding in the business but Great Hill Partners will remain a significant shareholder. The company provides payments enabling technology for ISOs, VARs and ISVs.
NMI CEO Roy Banks said, “We are extremely excited to announce this growth investment from Francisco Partners.”
“We look forward to investing heavily in the platform in the coming years and working closely with the Francisco Partners team to continue to build a world class company.”
NMI says that its product is a security-focused, omni-channel payment gateway platform that partners can completely brand, removing NMI branding from their merchant customers’ view.
Copyright FinTech Global 2017
