Source: Pivotal Payments
Pivotal Payments, a leading provider of technology-driven global payment processing solutions, announced it has entered into a strategic investment agreement with private equity firm Novacap and Canadian pension fund manager Caisse de depot et placement du Quebec (CDPQ), two world-class institutional investors with extensive expertise in international business expansions.
The new shareholders will enable Pivotal to pursue more markets, while further developing its payment technologies.
With a strong history of growth since 2003, Pivotal services more than 50,000 merchants, accounting for over USD $14 billion in annual transaction volume. The company offers direct acquiring in North America for point-of-sale businesses, integrated solutions, plus a robust global eCommerce platform. The investment provides Pivotal an opportunity to significantly increase its sources of revenue and fintech capabilities through the acquisition of traditional payment organizations and payment-enabled software companies.
"This investment marks an important step for Pivotal. We pursued an aggressive growth plan over the last few years, and we have chosen the best partners to support us going forward," said Philip Fayer, Pivotal's founding President and Chief Executive Officer.
Pivotal recently announced another phase of its growth with the move of its Arizona office into a new, 26,000-square-foot office in Scottsdale. The SkySong 2 Center location promotes both functionality and employee engagement, to enhance the services offered to merchant clients, sales partners and technology partners.