Iris Infuses Clear2Pay

Clear2Pay NV, a Belgian provider of payment solutions for financial institutions, has raised EUR 10 million in new VC funding from existing shareholder Iris Capital. The company previously had raised around $40 million, from firms like Iris, Big Bang Ventures, Intel Capital, GIMV, Quest Management, AGF Private Equity and TrustCapital Partners.




Clear2Pay, the international technology provider of next generation payment solutions for financial institutions today announced a capital increase of EUR 10 million by its current investors. Iris Capital, a pan-European venture and development capital company and investor since November 2006, took the lead in this internal round.

Erkan Kilicaslan, Partner at Iris Capital Management states: “We stand very strong by our statement at the time of our first investment and I am even more convinced today that we are building a market winner. The future outlook for financial software solutions remains positive and analysts, banks and technology framework partners alike are now truly convinced of the future proof nature of Service Oriented Architecture (SOA), on which the Open Payment Framework is based, and the ability it offers financial institutions to embrace both new and proprietary environments. Finally, we are very impressed with the excellent execution of the growth strategy by the management team under Michel Akkermans' lead.”

Jurgen Ingels, Co-founder and CFO of Clear2Pay adds: “Our investors wholeheartedly underwrite the strategy we are currently executing, such as sustaining a very targeted acquisition and integration strategy, expansion in China, where we will add another 40 people next month, and the continued development of our core Open Payment Framework. We are delighted with their commitment and by our staff's dedication to deliver upon this”.

About Clear2Pay
Clear2Pay is an innovative financial technology company focused on delivering globally applicable solutions for secure, timely electronic payments. Headquartered in Brussels, Belgium, the company facilitates banks and financial organisations in their provision of payments services. Clear2Pay's technology helps to reduce transactions processing costs, and to deliver new, compelling payment services in a competitive way. Clear2Pay's payment solutions offer organisations easy, branded ways for their customers to pay online: from complex trade-supporting business-to-business environments, through e-commerce applications, to retail payments and remittance services. Functions embrace payments origination, reporting, linkage with back-office processing systems, clearing, netting and settlement. Clients include global and major regional financial institutions such as ING, VISA, MasterCard, ABN AMRO, Nordea, Abbey National, Fortis Bank, ANZ and Commonwealth Bank. Clear2Pay operates out of Belgium, France, the Netherlands, Poland, Spain, United Kingdom, United States, Australia, China, Malaysia and Singapore and currently employs 340 staff.
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