Digital commerce and payment solutions provider CellPoint Digital has raised $25 million in a new equity financing round. The London-based fintech offers clients both cross-border payment orchestration and payment gateway solutions. The new funding will be used to expand into new verticals including retail, gaming, crypto, and digital content.
Founded in 2007, CellPoint Digital provides merchants with the ability to easily assemble a payment eco-system that orchestrates payments across various regions and methods (PSPs, cards, or alternative payment methods), and a gateway with services including stored cards, installments, or recurring payments, with the ultimate goal of increasing conversions.
On the front end of a sale, CellPoint Digital is keeping clients and end customers happy through the use of intelligent routing, increased payment authorisations, reduced system downtime, and lowering cross-border payments operations costs. And naturally, as we’ve all come to expect in today’s day and age, at checkout, a frictionless payment experience.
CellPoint Digital's primary targets have been a logical choice for international payments: the airline and travel industries, servicing clients including Southwest, Phillippine Airlines, Emirates, and Avianca, but as noted above, with the new capital, the company is broadening its horizons and now looking to champion additional verticals.
“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,” commented CellPoint Digital CEO Kristian Gjerding. “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.”
“The company continues to solve the most critical problem that businesses face today: the optimization of a customer’s entire path to purchase across all their digital channels,” said Penta Capital’s Steven Scott. “Based on winning key new clients, and with the aggressive growth strategy and penetration into new sectors, we see yet another compelling growth opportunity.”