Clear2Pay secures €50 million from Aquiline

[Belgium]Clear2Pay, an electronic payments company, has secured €50 million to fund its next stage of growth and potential strategic acquisitions. The investment was led by the New-York based Aquiline Capital Partners and previous investors.

This investment is taking place in the context of the sale of all shares held by Belgium VC Gimv to Aquiline. The sale has a positive impact of €2.2 million (EUR 0.10 per share) on Gimv’s last published equity value at 30 September 2009.

Clear2Pay, which is profitable, specialises in secure electronic payments and disrupts the existing legacy payment silos in banks.

Founded in 2001, headquartered in Brussels, Belgium, and employing 450 staff the company reduces transactions processing costs and cover the whole gamut of payments.