Payments technology company PayArc has secured an undisclosed strategic investment from private equity firm Bregal Sagemount.

PayArc offers payment processing solutions that help merchants streamline their payment processes.

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The firm intends to use the first round of financing to grow new sales and marketing channels, target strategic acquisitions, and expand its value proposition to all constituents.

PayArc co-founder and CEO Zachary Martinez said: “We built a business with a soul that cares just as much about its employees as its agent partners and customers.

“We are a leader in the payments space because of our ability to innovate on behalf of all our constituents. Our growth is a testament to that discipline, and we’re thrilled to enter this next chapter with the amazing team at Bregal Sagemount.”

PayArc, which is said to process more than $3bn in omnichannel payments volume annually, has over 10,000 merchants on its network.

The partnership with Bregal Sagemount will enable the firm to execute a number of strategic growth initiatives and bolster its suite of integrated payment functions.

PayArc president Jared Ronski said: “The Bregal Sagemount team has built a deep knowledge base in the industry and share our core values and vision for success. We’re incredibly proud of everything we’ve accomplished, and to have reached this notable milestone.”

Bregal Sagemount partner Clayton Main added: “We’re excited to partner with PayArc to provide the resources and operational expertise that will ensure they continue to deliver a leading integrated technology platform, drive superior payment solutions, and support their customers at the highest level.”

Main will join the PayArc directors board along with Jon Sonnenschein and Zach Month.