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Clear2Pay raises EUR10m

28 January 2008  |  4669 views  |  0 Pound Coin Cash

Belgium-based payments systems vendor Clear2Pay has raised EUR10 million in an internal funding round with current investors.

The financing was led by pan-European venture and development capital company Iris Capital, which has been a Clear2Pay investor since November 2006.

Commenting on the funding, Jurgen Ingels, co-founder and CFO of Clear2Pay, says: "Our investors wholeheartedly underwrite the strategy we are currently executing, such as sustaining a very targeted acquisition and integration strategy, expansion in China, where we will add another 40 people next month, and the continued development of our core open payment framework."

Erkan Kilicaslan, partner at Iris Capital Management, says the future outlook for financial software solutions "remains positive".

Kilicaslan says analysts, banks and technology framework partners are now "convinced of the future proof nature" of service oriented architecture (SOA), on which Clear2Pay's open payment framework is based.

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