Clear2Pay payment system obtains EUR50 million investment

Clear2Pay, a Belgian electronic payment company, has gained a financing of EUR50 million in an investment round led by New York private equity firm Aquiline Capital Partners.

According to the company statement the funds which also include money from current Clear2Pay investors, will be used for the company's "next stage of growth and potential strategic acquisitions".

Jeff Greenberg, chief executive, Aquiline, says: "Clear2Pay 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."

Jurgen Ingels, co-founder and CFO, Clear2Pay, adds: "Aquiline's financial services expertise will be valuable as we evaluate acquisition opportunities, accelerate our geographic expansion, grow our client base and broaden our product offerings."