Online payment firm raises GBP 5.5 million in new funding round

Online payment specialist, Easy Payment Gateway (EPG), has bolstered its war chest after completing a GBP 5.5 million funding round. The injection of capital has come from two angel investors and entrepreneurs, Andreas Mihalovits and Alejandro Betancourt.

Mihalovits is already an investor in Easy Payment Gateway, and has significantly increased his shareholding with this latest funding round and commented Monday that EPG is clearly a technology leader which has impressed with “superb” growth rates.

Betancourt is a Venezuelan businessman with a wide spectrum of investments in construction, energy, real estate, oil, banking, technology and most recently fashion, after investing in the sunglasses company Hawkers.

The investment will be spread over two phases, with an initial GBP 2 million followed up by a further GBP 3.5 million once all KPIs are met. Easy Payment Gateway plans to use the cash to drive operational growth with new offices in Malta and Madrid, while also expanding its London base. Some of the investment will also be used to explore the viability of entering new markets such as Israel and South America.

Easy Payment Gateway is an online portal with more than 220 different payment methods and worldwide acquirers. The company offers online merchants everything they need to process transactions via a simple yet secure API integration. The company is currently deployed with major companies like BetVictor, iGC, Nektan, VodooDreams and Ikibu, among others.

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