Technology Crossover Ventures has acquired U.K. payments company Retail Merchant Services, according to a press release. No financial terms were disclosed.
The investment comes from TCV’s $2.5 billion growth fund, and as part of the transaction, TCV General Partner John Rosenberg will join the board.
Retail Merchant’s shareholders, including founder Paul Bentham and the management team, reinvested alongside TCV. The acquisition and associated investment will support growth at the company.
TCV was advised by Arma Partners and Weil, Gotshal & Manges. Retail Merchant, founded in 2007, was advised by Iain Stuart Robson, PwC and Wilkin Chapman LLP.