VANCOUVER, British Columbia--(BUSINESS WIRE)--
hyperWALLET Systems Inc., the leader in cross-border corporate
payment solutions, today announced it has completed a growth equity
financing with Primus Capital.
hyperWALLET’s award-winning technology platform and global financial
network provides brand-enhancing B2C and P2P services for hundreds of
global corporations and financial institutions. Already the market
leader for commission payment distribution, with customers including
Forever Living, Scentsy and Monavie, the financing will immediately
allow hyperWALLET to invest in expanded sales and marketing initiatives
domestically and abroad, extend an industry-leading product set, address
additional end markets, and build upon its existing infrastructure and
licensure portfolio. hyperWALLET has opened an office in San Francisco
to support the effort.
“Over the past four years the Direct Selling industry has embraced our
private-label wallet, prepaid card and money transmission solutions to
meet its highly complex global commission distribution requirements.
We’ve proven that compliant and easy to use cross-border payment
solutions don’t need to be cost prohibitive,” said Lisa Shields, founder
and CEO of hyperWALLET. “We look forward to deepening our services to
the Direct Selling industry, and also bringing the benefits of our
patented platform and global bank, card, and cash clearing partnerships
to new market verticals. We are thrilled to partner with Primus Capital,
and look forward to tapping their payments industry knowledge, network
of talent, and expertise to guide the next phase of hyperWALLET’s
“Cross-border business payments represents a $50 trillion global market,
yet governments and corporates alike struggle to find payments solutions
that can meet their service level requirements,” said Jonathan Dick,
Managing Director of Primus Capital. “hyperWALLET is leading the market
for affordable and accessible corporate payments, and we share
management’s enthusiasm for the opportunities ahead.”
Ron Hess, a Primus Director, added “hyperWALLET’s technology unifies
cross-border and domestic payments, giving organizations a single
business process for all of their payables - high value or low value,
domestic or international. When a company of this scale averages over
90% growth for three straight years they are clearly onto something.”
Raymond James & Associates served as financial advisor to hyperWALLET on
delivers secure, global-grade payment technologies to organizations who
require a simplified way to access or leverage the global financial
network. Since 2000, we have become a leading provider of online and
mobile payment, international payments, card products and financial
technology solutions to world-class customers in Canada, the U.S. and
internationally. With hundreds of customers (including more than 200
credit unions) that touch millions of users, our clients span numerous
sectors including financial services, business and government. For more
information, visit www.hyperwallet.com.
About Primus Capital
Capital is a private equity firm that invests in high-growth companies
within the healthcare, technology, and technology-enabled services
industry sectors. Primus is currently investing its seventh fund, which
has over $350 million of committed capital. Transaction types include
acquisitions, recapitalizations, and primary investments of growth
capital. For more information, visit www.primuscapital.com.
hyperWALLET Systems Inc.
Lisa Shields, 604-482-0090
Source: hyperWALLET Systems Inc.