SAN FRANCISCO & FORT WORTH, Texas–(BUSINESS WIRE)–TPG, a global alternative asset firm, today announced it has made an investment in FreedomPay, a global leader in commerce technologies. Terms of the transaction were not disclosed.
“FreedomPay provides sophisticated technology that enables the most complex organizations to efficiently manage their payments infrastructure,” said Arun Agarwal of TPG. “The company’s technology-first culture, experienced management team, and innovative platform sets them apart in today’s rapidly growing digital payments space,” said Eric Noeth of TPG.
Founded in 2000, FreedomPay provides cloud-based payments solutions for the entire commerce ecosystem. The omni-channel payments and incentives platform provides fully-integrated, processor agnostic technology that helps large and leading enterprises manage their payments infrastructure, security, analytics, and marketing offers. FreedomPay works with global leaders across retail, hospitality, gaming, education, healthcare, and financial services.
“TPG has deep experience partnering with leading technology companies to strategically enhance and grow their businesses,” said Tom Durovsik, Founder and CEO of FreedomPay. “Their partnership is a testament to our strong growth and differentiated platform. We look forward to working together to continue to provide smart, seamless, and insightful payments solutions for enterprises across the globe.”
Some of TPG’s current and past investments in the technology sector include Airbnb, C3 IoT, Tanium, Uber, and Zscaler.
RBC Capital Markets acted as financial advisor to TPG in this transaction.
The FreedomPay Commerce Platform is the best way for merchants to simplify complex payment environments. Validated by the PCI Security Standards Council for Point-to-Point Encryption (P2PE) along with EMV, NFC and DCC capabilities, global leaders in retail, hospitality, gaming, education, healthcare and financial services trust FreedomPay to deliver unmatched security and advanced value added services on a global scale. With broad integrations across top point-of-sale, device manufacturers and payment processors, supported by rapid API adoption, FreedomPay is driving the future of commerce and customer interaction around the world. For more information, go to corporate.freedompay.com
TPG is a leading global alternative asset firm founded in 1992 with more than $94 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com