Aquiline Capital Partners, a New York-based private equity firm investing in the financial services sector, has led an investment round in Clear2Pay, a financial services technology company that delivers global solutions for secure and timely electronic payments.
The investment, which also includes funds from current Clear2Pay investors, will provide the company with EUR50m to fund its next stage of growth and potential strategic acquisitions.
Jeff Greenberg, CEO of Aquiline, said: “With financial institutions looking to streamline their operations, comply with changing local regulatory requirements and maximize revenue in the current financial environment, the demand for innovative payment systems has increased.
“Clear2Pay is a profitable business and has the best growth potential in the industry because of its experienced management team, next generation technology, strong customer relationships and proven ability to integrate strategic acquisitions.”
Michel Akkermans, chairman and CEO of Clear2Pay, said: “We have built an industry leading platform from the bottom up and have always concentrated on sound financial funding with relevant and knowledgeable investors. We look forward to continuing to bring solutions to our clients through our ongoing commitment to research and development.”
Jurgen Ingels, co-founder and CFO of Clear2Pay, said: “Aquiline’s financial services expertise will be valuable as we evaluate acquisition opportunities, accelerate our geographic expansion, grow our client base and broaden our product offerings.”
The investment is expected to be consummated by the end of this year and is subject to customary closing conditions.
