Belgium-based payments systems vendor Clear2Pay says it has secured EUR3 million in funding from Paris-based Iris Capital, which includes a EUR1 million equity stake in its business.
The new capital increase follows the closing of a EUR15.7 million funding round in June this year which was led by new investors AGF Private Equity and GIMV and included existing investors Intel, Quest for Growth, TrustCapital, Big Bang Ventures as well as Clear2Pay's management.
Clear2Pay said it would use the funds to invest further in its research and development programme and its global infrastructure.
Iris Capital is a pan-European venture and development capital firm specialising in media, communications and information technology.
Commenting on the new funding Jurgen Ingels, co-founder and CFO of Clear2Pay says: "We feel that Iris Capital with their excellent and longstanding track record in the telecommunications industry offers us substantial added value in building bridges with the global financial services industry, in which we operate."
Erkan Kilicaslan, partner at Iris Capital, says the firm has "a long history in the telecommunications space and finally we see this sector coming together with banking/payments processing".
"Clear2Pay is in the middle of these new developments with a vision we share," adds Kilicaslan.