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Euro Ventures - Tuesday, December 8, 2009

Aquiline Puts $74M Into Clear2Pay

Aquiline Capital Partners, a New York-based private equity firm has led the investment round in Clear2Pay which manages electronic payments. This round with also funds from existing investors provides €50M ($74M) to Clear2Pay for its future growth and potential strategic acquisitions. This round will close with customary conditions by the end of this year.

We know that the payments technology industry has a multi billion dollar revenue opportunity and is an expanding market. However, Clear2Pay and its backers make the case that localization is key. Shifting industry paradigms like globalization, consolidation, regulatory change and Eurozone harmonization demand efficient and up-to-date payment silos especially in many banks, processors and clearing houses.

Clear2Payis a one-stop-shop for global payment solutions. It accommodates different payment systems of its customers complying with changing local regulatory requirements. Jurgen Ingels, Co-founder and CFO says the company plans to accelerate their geographic expansion with broadened product offerings.

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By Raghuraman R