Bluefin Payment Systems said Tuesday it raised $6 million in growth equity financing led by Financial Partners and Camden Partners. Other investors include Jeff Liesendahl, the former CEO of Accertify, and members of the management team. Atlanta-based Bluefin is the former Capital Payments, provider of payment solutions for U.S. and Canadian merchants.
March 29, 2016 11:00 AM Eastern Daylight Time
ATLANTA–(BUSINESS WIRE)–Bluefin Payment Systems announced today that Financial Partners, the private equity group of Napier Park Global Capital (US) LP (“Napier Park”), and Camden Partners have led a $6 million growth equity financing for the company. Co-investors included Jeff Liesendahl, the former CEO of Accertify, and members of the management team.
Napier Park is an alternative asset manager with approximately $6.2 billion in capital under management as of January 1st, 2016. Napier Park’s Financial Partners Fund I, L.P. provides growth equity capital to financial services and related businesses.
“We are very pleased to support Bluefin’s growth,” said Manu S. Rana, Managing Director and a Co-Head of Financial Partners at Napier Park. “Data breaches impacting payment transactions show no signs of slowing down, particularly among retail, healthcare, and education enterprises, and Bluefin’s security solutions are the future of safeguarding cardholder data.”
Camden Partners is a growth private equity firm with domain expertise across three verticals: education, healthcare and technology enabled services. Camden’s focus on financial technology enabled services business is led by Managing Member, Shane H. Kim.
“We have known Jeff Liesendahl for many years and are excited to have him co-invest with us at Bluefin,” said Shane Kim. “Jeff is one of the great minds in cybersecurity, having provided fraud prevention services to large merchants as the CEO of Accertify.”
Bluefin specializes in PCI-validated Point-to-Point Encryption (“P2PE”) for integrated and stand-alone solutions serving retail, mobile, call center and kiosk/unattended environments in the retail, healthcare and education industries. Bluefin became the first PCI-validated P2PE provider in March 2014. Bluefin’s solutions encrypt cardholder data within a PCI P2PE approved device, preventing clear-text cardholder data from being available in an organization’s system and network where it could be accessible in the event of a data breach.
“Bluefin’s growth continues to accelerate due to our extensive product and technology investments,” said John M. Perry, CEO of Bluefin. “We have several partners that have integrated P2PE on their platform through our Decryptx product, and we are providing PCI-validated P2PE to large companies and universities through our gateway while continuing to grow our list of compatible P2PE devices. There is a tremendous market need for PCI-validated P2PE across every size of business and every vertical.”
About Bluefin Payment Systems
Bluefin Payment Systems is the leading provider of secure payment technology for retailers, enterprises and small to medium-sized businesses worldwide. Bluefin specializes in PCI-validated Point-to-Point Encryption (P2PE) integrated and stand-alone solutions for retail, mobile, call center and kiosk/unattended environments, and secure Ecommerce technologies including transparent redirect and tokenization. Bluefin is a Participating Organization (PO) of the PCI Security Standards Council (SSC) and is headquartered in Atlanta, with offices in New York, Chicago, Tulsa and Waterford, Ireland. For more information please visit http://www.bluefin.com/.