Payment processing solution platform Pineapple Payments has received a $35m financing round to help support acquisitions.
The investment saw a contribution from Providence Strategic Growth, which is the first institutional investor to back the company.
Pennsylvania-based Pineapple Payments offers an omni-channel payment acceptance tool for all types and sizes of retailers. The company, which targets B2B, B2G, and Integrated Software Vendors, gives clients access to physical and virtual payments, including its â€˜mobile sweeperâ€™.
The platform, which is integrated with systems including Oracle, SAP, WooCommerce, among others, offers users real-time transaction reporting, and point-to-point protection on payments. Pineappleâ€™s pricing is in three different types, a flat rate, revenue share or an interchange + pricing.
This equity will be used to help accelerate the companyâ€™s growth strategy and to help provide its enhanced payment processing experiences to merchants of all sizes.
Pineapple Payments CEO Brian Shanahan said, â€œWe currently have executed LOIs with three completely unique organizations that together serve 30,000 merchants and process 11 billion dollars annually. We believe these deals will allow Pineapple to leverage the best technology and product offerings in the industry to drive future growth by enhancing the merchant-facing payments experience.â€
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