Spreedly, a software solution which helps businesses optimize their online and mobile payments, has bagged $75m.
The capital was supplied through a growth investment from Spectrum Equity. With the capital infusion, Spreedly will accelerate product development and enhance its global expansion plans as well as further its growth in Latin America.
Its technology helps clients securely capture and store cardholder data into a Spreedly vault and then used tokenized payment details from the vault to transact across hundreds of third-party payments and e-commerce service connections.
The platform lets businesses of all size scale and optimize their payment operations through a single API connection. It allows for businesses to route transactions via any combination of payment services without having to touch end-consumer card data.
Spectrum Equity managing director Adam Margolin said, “Spreedly is uniquely positioned to address the online and mobile payments challenges of fast growing and global businesses.
“With minimal prior funding, Spreedly has grown rapidly and today powers nearly one million transactions daily, 108% more than the year before, on behalf of its customers. We are thrilled to have this opportunity to back Justin and the rest of the Spreedly team and to support their ambitious growth plans.”
Last year, Spectrum Equity deployed $65m into B-Stock, a B2B marketplace for liquidation merchandise. It offers an online auction marketplace for retailers and manufactures to sell their returned, excess and liquidation inventory to global buyer base.
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