Easy Payment Gateway raises £5.5m in funding round
Online payment specialist Easy Payment Gateway (EPG) has generated £5.5m (€6.2m/$7.1m) in its latest funding round.
Andreas Mihalovits, already an investor, took part in the round and will increase his overall shareholding in EPG as a result, while fellow angel investor Alejandro Betancourt also participated.
EPG said the investment will be spread over two phases, with an initial £2m to be followed by a further £3.5m once all key performance indicators are met.
The company added that it intends to use the funds to drive operational growth, as well as to explore the viability of entering new markets such as Israel and South America.
Jose Manuel Peral, chief operating officer at EPG, said: “We are thrilled to have raised £5.5m via our latest funding round, and to bring on a new investor in the form or Mr Betancourt.
“We will use the money to drive growth in the markets we are currently active, while also testing the waters for expanding our reach into Israel and the Middle East as we look to take the business to the next level.”
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