Irish mobile top-up service provider Ding has sold a majority stake to London-based private equity player Pollen Street Capital.
Financial terms of the deal were not disclosed but the equity value is pegged at around $300 million, says the Irish Times, citing industry sources.
Founded in 2006 by Mark Roden, Ding has developed into a global leader in international top-up and credit transfers, offering customers the ability to top up online, through an app, via partners through the Ding API and in over 600,000 retail stores.
The firm now claims to serve millions of customers around the world - who have sent almost a half a billion tops-ups.
The Pollen Street Capital deal is the first time that Ding has taken external investment. As the biggest shareholders, Roden and his family can expect a major windfall.
The Pollen investment - alongside a "substantial investment from Roden - will be used to develop new products and expand into new geographies.
Says Roden: "The addition of a strategic investor to our company marks an important milestone for Ding and sets us up for significant growth."