One of Wales’ leading technology firms, Mypinpad, has been boosted with a £10m equity investment.
The funding round, led by fintech investment group Crossfin , will support the expansion of Mypinpad’s payments and authentication SaaS (software as a service) offerings, as well as technological advances and moves into new markets.
Crossfin has a portfolio of innovative emerging market companies. It said Mypinpad will further benefit from partnerships with other companies within Crossfin’s portfolio, many of which are engaged in areas closely associated with its activities.
The equity stake Crossfin now has in Mypinpad has not been disclosed.
Chief executive of Mypinpad Barry Levett said: “We are incredibly proud to have secured this investment, especially in the current difficult investment climate.
“It demonstrates market recognition of our value proposition, successful track record and the innovative solutions we offer. This investment will provide the necessary fuel to accelerate our growth, strengthen our global reach and potentially expand into new verticals.”
Dean Sparrow, chief executive and co-founder of Crossfin, said: “Barry and his team have built an innovative, scalable business that aligns well with Crossfin’s best-of-breed mobile point of sale and software point of sale payment solutions and related mobile payment security solutions, enabling us to extend our reach across emerging markets globally.”
Mypinpad has clients in 25 countries. It employs 75 globally with around 25 at its Cardiff headquarters located at Tramshed Tech.
Read More:
