Penta invests £11m in Cellpoint Mobile
Penta Capital, the private equity arm of Toscafund Asset Management, has made an £11m growth equity investment in UK-based mobile payment technology firm Cellpoint Mobile.
The size of the stake acquired by Penta was not disclosed, but Unquote sister publication Mergermarket reported in July last year that the company would consider selling 15-20% for a growth capital raise of $20m.
The fresh capital will be used to expand Cellpoint’s team globally and develop the platform in the area of intelligent analytics.
Company
Cellpoint was founded in 2007 and is headquartered in London. Its first project was launching a mobile payment solution for Danish Rail, and it then moved into the airline market. It now employs 130 people at offices in Miami, Chicago, Copenhagen, Dubai, London, Pune and Singapore.
People
Penta Capital – Steven Scott (partner).
Cellpoint Mobile – Kristian Gjerding (CEO).
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