CellPoint Mobile secures £11m from Penta Capital and Toscafund for international expansion
The equity round will fund global team expansion and product innovation for the travel commerce technology provider.
CellPoint Mobile provides digital commerce and payment technology designed for airlines and travel companies worldwide. The firm operates an integrated platform that helps merchants manage sales and optimize customer payments.
CellPoint Mobile has secured £11m in equity funding provided by Toscafund Asset Management and managed by Penta Capital. The capital will support the company as it expands its team globally and drives further innovation in its commerce platform.
The investment follows a period of growth that saw the firm add several new carriers to its roster, including Southwest Airlines and Ethiopian Airlines. Executives noted that travel providers increasingly require better tools to handle digital payments and passenger transactions efficiently.
From the founder
"We continue to experience a very strong demand from travel companies that want to optimize their digital payment and commerce solutions, to counter the tremendous challenges they face with their existing providers to deliver quickly and cost-efficiently,"
Kristian Gjerding
CEO at CellPoint Mobile
Investor perspective
"We are very excited to finance CellPoint Mobile’s next phase of expansion,"
Steven Scott
Founding Partner, Penta Capital
Use of funds
- 01Grow the team
- 02Continue product development
Investors
Categories
About the company
CellPoint Mobile
CellPoint Mobile supplies digital commerce and payment technology to the travel sector.