PCT Management secures €12million investment to further accelerate growth
July 6, 2016: Payment Card Technologies (PCT) announced a management buyout supported by a €12million investment from a European private equity firm. The transaction provides the company with significant growth development capital and a strong debt free balance sheet for further expansion both in Europe and Internationally.
PCT is a multi-award winning business to business provider of digital banking & payments products and services to major blue chip organisations, delivering a suite of banking & payment capabilities by virtue of its digital technology platforms and its industry leading customer services. PCT has grown rapidly in each of its target market verticals of digital banking, retail payments and commercial payments.
Ian Clowes, founder & CEO, Payment Card Technologies, said, “PCT is delighted to announce the MBO which allows the company to further invest in our technology platforms, service capability and skill base. We are particularly pleased with our new funding partner based in Ireland, who shares our vision to create a fast growing FinTech business focused on delivering world class digital banking & payment propositions. I would like to take this opportunity to thank our previous shareholders, Lenlyn Group for their strong support over the past few years that has allowed the company to invest and grow.”
Peter Ibbetson, chairman of Lenlyn Holdings said “We are pleased to have been able to support PCT in its growth so far, and we wish the management well as they embark on this new phase of development.”