Columbus, Ohio-based online payment processor 2Checkout has raised an undisclosed amount from Chicago Growth Partners and Trident Capital. Terms were not disclosed. The money will be used for growth efforts.
2Checkout, an online payment processor for more than 10,000 ecommerce global businesses, has announced its relationship with Chicago Growth Partners (“CGP”) and Trident Capital. The investment will position the already successful online payments business for aggressive growth in the coming years.
“We are thrilled to have both Chicago Growth Partners and Trident Capital as partners,” said Tom Dailey, 2Checkout CEO. “We appreciate their confidence in the 2Checkout management team and our vision for the future of online payments. Both partners have tremendous industry, operational and marketing expertise that will help us better serve our customers and continue to grow the business globally.”
By handling not just payments but also risk management and currency and language complexities, 2Checkout makes it easy for online Sellers to sell their goods and services to buyers all over the world. By providing a dynamic checkout experience that automatically adjusts to the buyer’s device – PC, tablet or mobile – and allowing for a customized, branded experience, 2Checkout helps Sellers sell more by creating a seamless, intuitive and comfortable online buying experience.
Devin Mathews, Chicago Growth Partners Managing Partner, added, “We are excited about the product offerings and growth opportunities at 2Checkout. We see great potential to leverage CGP’s core strengths to enhance 2Checkout’s technology, scale the organization and achieve significant growth.”
“The online and mobile payments industry is rapidly evolving and we look forward to helping 2Checkout capitalize on this significant market opportunity,” said Senior Managing Director and Trident Co-Founder, Don Dixon. “By combining Trident’s deep knowledge of payments and technology with 2Checkout’s robust payment processing platform, we’re extremely confident in bringing to market a highly differentiated online payments solution for businesses.”
About Chicago Growth Partners
For over 25 years and across more than 100 growth companies, the principals of Chicago Growth Partners have partnered with quality management teams to help facilitate their growth objectives. CGP executes its growth-focused investment strategy across four industries: Education, Healthcare, Tech-Enabled Services and Industrial Growth, where our expertise in information technology, marketing, and finance can often be helpful to our management teams. CGP currently manages $1.2 billion of capital commitments and has offices in Chicago and La Jolla. For more information on Chicago Growth Partners, please visit www.cgp.com.
About Trident Capital
Trident Capital is a venture capital and growth equity firm combining the vision and risk-tolerance of venture capital with the financial creativity and flexibility associated with private equity. Trident is a thesis-driven investor that continually evaluates emerging trends and future customer needs. Trident’s areas of investment focus are Internet and Mobility, Software, IT Security, Healthcare IT and Business Services. Trident has raised $1.9 billion of capital since inception in 1993. The firm is based in Silicon Valley, but will invest in the right company anywhere in North America.