The payments technology industry is a large and growing market with a multi billion dollar revenue opportunity. Many banks, processors and clearing houses are currently working with legacy payment silos that are proving inefficient and outdated in the face of shifting industry dynamics such as globalization, consolidation, regulatory change and Eurozone harmonization.
Clear2Pay is a unique, one-stop-shop for flexible, scalable and cost-efficient global payment solutions. The company offers its clients the modern architecture and software necessary to accommodate all of their payment systems and modify their market propositions efficiently.
"With financial institutions looking to streamline their operations, comply with changing local regulatory requirements and maximize revenue in the current financial environment, the demand for innovative payment systems has increased,â said Jeff Greenberg, Chief Executive of Aquiline. âClear2Pay 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.â
âWe have built an industry leading platform from the bottom up and have always concentrated on sound financial funding with relevant and knowledgeable investors,â said Michel Akkermans, Chairman and CEO of Clear2Pay. âWe look forward to continuing to bring solutions to our clients through our ongoing commitment to research and development.â
Clear2Pay Co-founder and CFO Jurgen Ingels added: âAquilineâs financial services expertise will be valuable as we evaluate acquisition opportunities, accelerate our geographic expansion, grow our client base and broaden our product offerings.â
The investment is expected to be consummated by the end of this year and is subject to customary closing conditions.