CellPoint Digital, which offers travel payment solutions, has garnered $30m in financing from Toscafund and Penta Capital.
The funding will enable CellPoint Digital to focus on optimising client services while expanding its Alternative Payment Method (APM) hub.
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It will help expedite the launch of its Offer Order Service Delivery (OOSD) payment orchestration platform.
The capital infusion will drive the company’s global expansion by enhancing its payment and money movement services and also help it deliver recently secured contracts with Riyadh Air and Sabre.
CellPoint Digital’s OOSD platform is designed to modernise airline retailing. It facilitates a transition from legacy systems to modern offer and order architecture, supports diverse payment methods, and provides real-time order management.
The platform’s capabilities include payment-driven offer creation, unified payment orchestration, and data-driven personalisation which are vital in a travel industry moving towards new distribution capability (NDC).
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By GlobalDataCellPoint Digital CEO Kristian Gjerding said: “As our company has grown rapidly in the last few years, we have delivered our industry-first payment orchestration solution to more travel brands worldwide, supporting them in optimising payment processes, driving profitability, and improving their customers’ experience.
“This latest investment from our valued partners at Toscafund and Penta Capital not only acknowledges our growth and the ongoing strong demand for our solutions in the travel industry but also paves the way for more global expansion and success within the market, positioning the company for long-term scalability.”
Penta Capital founding partner Steven Scott said: “CellPoint Digital has continually solidified its leading market position and demonstrated its ability to expand aggressively and responsibly.
“As we forecast demand for CellPoint Digital’s solutions to continue across the global travel sector, we are confident that this investment will represent another compelling growth opportunity.”
This latest round of funding follows an investment in 2022, which saw CellPoint Digital raking in $25m from Toscafund and Penta Capital, who initially invested in the company in 2019.
