PayTech CellPoint bags $25m to fuel international expansion

Digital commerce and payment provider CellPoint Digital has scored $25m in funding from an equity financing round.

The investment was provided by Toscafund and its private equity arm Penta Capital. This comes following a slew of investments by the two organisation in CellPoint since their initial investment in the company in 2019.

According to CellPoint, it will use the newly raised capital to expand into new international markets but did not specifically state which ones. In addition, the investment will support the platform’s expansion into new market verticals alongside its travel, gaming, retail and crypto offerings.

Founded in 2007, CellPoint provides digital payment platforms that enable airlines, travel companies and any other merchants to simplify their payment solution, reduce payment costs and increase their digital revenue.

The company offers Velocity – a payment orchestration platform that optimises all digital payment transactions – to Voyage, a platform that seeks to master the entire customer sales cycle and optimises the end-to-end conversion rate.

CellPoint currently has locations in the US, the UK, Denmark, Dubai, Singapore and India.

CellPoint CEO Kristian Gjerding stated that CellPoint has seen 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.”

He added, “The logical next step is to widen our global reach and penetrate new market verticals that stand to be transformed by our solutions.”

Previously in 2020, CellPoint inked a partnership with Cebu Pacific, the Filipino airline, to implement its payment solutions across all its digital channels.

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