Investee Company – Orbiscom
Investee Company Business Type – Provider of e-commerce payment solutions
Type of Financing – Expansion
Equity Providers – HgCapital
Equity Leader (Individual) – Ian Armitage a Director of HgCapital
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – $17.5 million
Total Deal Value – $17.5 million
Other Advisors – Goodbody Corporate Finance
Comments – Orbiscom, a provider of e-commerce payment solutions, has secured $17.5 million in funding from HgCapital (formerly Mercury Private Equity). This investment is the third made by HgCapital in businesses that provide critical e-commerce enablement software.
Founded in 1998, Orbiscom is the creator of Controlled Payment Technology for online and real world payment applications. Orbiscom’s flagship technology O-power? enables card issuers, e-merchants, consumers and businesses to utilise online and wireless devices for controlled and secure debit and credit payments.
Orbiscom will use the funds to deliver on its growth plans to bring secure and authenticated online payments to consumers worldwide through partnerships with financial institutions and mobile providers, as well as supporting its strong intellectual property position.
Graham O’Donnell, Group CEO of Orbiscom, said: “This funding will allow us to continue our growth campaign while assuring our current clients and prospects that we have technical, Intellectual property and financial strength to service major partners”.
Ian Armitage of HgCapital commented: “We continue to believe that there are great opportunities to make money in technology companies which meet clearly defined market needs, offer a superior product and are run by focused, talented managers. Orbiscom fits the bill on all counts. We look forward to working with Orbiscom as it pursues its vision of becoming the global standard for secure on-line card payment security.”