In a recent development, UK-based fintech startup Cellpoint Digital has announced a $25 million investment from Toscafund and its private equity arm, Penta Capital, to help the company further expand to other markets. This is not the first time Toscafund and the equity arm are investing in Cellpoint; they had earlier made a $31 million investment in 2019, which brings their total investment into this company to $56 million.
Cellpoint is currently one of the leading global digital commerce and payment solutions providers. This new investment will help them get into other new markets, including retail, gaming, crypto, digital content, and many more. It will all depend on which markets they want to get into first.
Payment Orchestration Platform
By allowing payments across regions and payment methods, Cellpoint makes it possible for merchants to adopt a multi-acquirer payment model hence creating more opportunities for these small businesses. Cross-board payments are one of the most complicated challenges that small businesses face.
Over the years, CellPoint has proven to help these small businesses overcome this challenge by lowering the operational costs they have to incur while processing cross-border payments by their customers. In addition to payments, CellPoint Digital also helps businesses to increase top-line revenue utilizing intelligent routing, increasing authorizations, and providing system uptime transparency.
A digital payment ecosystem
The company also helps eCommerce platforms present different payment methods to their customers, leading to a seamless checkout process. When customers are given various payment options to choose from, they will be more likely to buy than when these options are limited. This is true especially to customers outside any given platform’s native country or region.
Besides helping CellPoint Digital to grow, their new investment partnership with Toscafund and Penta Capital has further strengthened the relationship between these businesses.
In his words, CellPoint CEO Kristian Gjerding said, “The past few years have seen extraordinary growth for CellPoint Digital. We continue to experience 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.”
“With a business foundation that is stronger than it’s ever been, the logical next step is to widen our global reach and penetrate new market verticals that stand to be transformed by our solutions.”
Steven Scott, Founding Partner of Penta Capital, also expressed his gratitude and hope for their investment partnership with CellPoint Digital. He says they are delighted to finance CellPoint digital, a company that is making it easier for small business customers to make purchases across various digital platforms without incurring huge fees.
The mutual respect between these companies is a clear sign of more partnerships and financing in the future as CellPoint continues to grow. “Our fingers are crossed to see how CellPoint takes advantage of this new financing to get into the markets they have always targeted.”