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Clear2Pay raises EUR50m

07 December 2009  |  6819 views  |  0 Savings house in hands

Belgian electronic payments outfit Clear2Pay has raised EUR50 million in an investment round led by New York private equity firm Aquiline Capital Partners.

The money, which also includes funds from current Clear2Pay investors, will be used for the company's "next stage of growth and potential strategic acquisitions".

Founded in 2001, Clear2Pay has already raised around EUR50 million and made a number of acquisitions, buying the assets of specialist Dutch consultancy Ereon and Beijing-based vendor ETH Tech this year.

Jeff Greenberg, chief executive, Aquiline, says: "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."

Jurgen Ingels, co-founder and CFO, Clear2Pay, adds: "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, subject to customary closing conditions.
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