Belgian private equity firm Gimv has sold its stake in payment technology developer Clear2Pay to Aquiline Capital Partners, a US private equity firm.
The sale is part of a financing round which sees Aquiline invest €50m.
Gimv has been an investor in the business since 2006, when it invested €4.7m in a €15.7m series A round, and has invested in subsequent financings. Other backers of the business include AGF Private Equity, Intel, Quest for Growth, Trustcapital Management, Big Bang Ventures and Iris Ventures.
Clear2Pay, which is based in Belgium, develops innovative payment technology for financial institutions, aimed at the safe, timely and smooth processing of internal payment traffic. Founded in 2001, the company currently has 450 employees in 15 offices worldwide.