While terms of this week’s investment were not disclosed, the new funding for Alpha Payments Cloud from Australia-based First Quay Capital is believed to have taken the company’s valuation to $250 million.

In a statement issued from First Quay Capital, Talal Yassine, chairman, is quoted as saying: “We are very excited to be investing in, and partnering exclusively with, Alpha in the Gulf region and selected countries in the Middle East.” He called Alpha Payments Cloud “the next generation of unique, innovative, cost-effective institutional middleware on a revolutionary global platform.” First Quay specializes in investments in high-growth industries such as finance, healthcare, and education. The firm also provides support to companies looking to grow their presence in the MENA (Middle East and North Africa) region.

Alpha Payments Cloud CEO Oliver Rajic demonstrated AlphaHub at FinovateEurope 2017.

For the financial sleuths out there, recall that Alpha Payments Cloud picked up an investment from Wells Fargo this summer courtesy of its participation in the bank’s Startup Accelerator program. And while the amount from Wells Fargo was also not disclosed, the company reported the investment took its valuation to $100 million. The fact that First Quay Capital’s investment more than doubles Alpha Payments Cloud’s valuation suggests a significant capital infusion.

Founded in June 2012 and headquartered in Singapore, Alpha Payments Cloud demonstrated its AlphaHub technology at FinovateEurope 2016. The company’s Payments-as-a-Service technology provides a middleware layer that both “amplifies third-party access” while making new vendor selection as easy as “the click of a button.” Via the AlphaHub API, users can access more than 250 third-party solutions, as well as Alpha Payments Cloud’s proprietary technologies to ensure access to “any payment type, any solution provider, anywhere in the world.”

Alpha Payments Cloud also this month teamed up with Australian online security innovator, Haventec, and will serve as the startup’s preferred integration provider for its identify authentication and secure payment services, Haventec Authenticate and Secure Wallet, respectively. And earlier this month, the company announced a partnership with RS2 Software that would help support banks in Thailand.

Recipient of a Best of Show award for its demo at FinovateSpring 2015, Alpha Payments Cloud will demonstrate its latest technology at FinovateAsia 2016 in Hong Kong, 8 November. Visit our FinovateAsia 2016 page for more details and information on how to buy tickets and save your spot at this year’s event.

Just a month ahead of our return to the Far East for FinovateAsia we learned today that Singapore-based Alpha Payments Cloud is partnering with RS2 Software to bring key financial and non-financial services to banks in Thailand via a single integration. Oliver Rajic, Alpha Payments CEO, said that his company’s AlphaHub technology was especially suited for FIs in Asia because of the region’s great variation when it comes to everything from government regulations to local customs and business preferences. “The combination of our agile and functionally rich propositions enables banks to offer highly bespoke solutions relevant to their domestic markets,” Rajic said.

The combination of AlphaHub from Alpha Payments Cloud and RS2’s BankWORKS processing software will give Thai FIs a “one-stop shop” for services ranging from AML/KYC and fraud prevention to global acquiring and transaction routing. Merchants will be able to use the technology to accept a wide range of payment types, including alternative payment types, in more than 100 currencies.

Alpha Payments Cloud CEO Oliver Rajic demonstrated AlphaHub at FinovateEurope 2016.

Founded in 2012 and headquartered in Singapore, Alpha Payments Cloud demonstrated its AlphaHub technology at FinovateEurope 2016, following up on its Best of Show winning demo at FinovateSpring 2015. The company’s AlphaHub technology is a payment-as-a-service platform that gives banks and merchants the ability to accept any payment, any solution provider, anywhere in the world. The platform has more than 250 third-party solutions—more than 60 in the area of fraud, risk, and commerce alone—and is readily integrated via the AlphaHub API. Rajic underscored that point in this week’s announcement, saying the company believes in “eliminating integration friction and standardizing data to simplify access via our enterprise app platform.”

This summer Alpha Payments Cloud reported that it will be one of two early-stage payments companies to participate in Wells Fargo’s accelerator program this year. And in the spring, the company partnered with Chinese payment-services provider, WeCollect, to launch the China Payments Cloud. Alpha Payments Cloud began the year winning the Next Generation Payments category at the KPMG Fintech Innovation Challenge, and partnering with Sentenial to power SEPA Direct Debit acceptance for European businesses. It has raised $12 million in total funding and is one of the presenters at our upcoming FinovateAsia 2016 event in Hong Kong, 8 Nov 2016. Visit our registration page for more information.

FinovateSpring 2015 Best of Show winner Alpha Payments Cloud is one of two early-stage payments companies that Wells Fargo chose to participate in the spring 2016 class of its semi-annual startup accelerator.

During the six-month program, the Singapore-based startup receives an investment ranging from $50,000 to $500,000 and mentorship to help refine its AlphaHub solution that lets banks, merchants, and payment service providers access any payment type or solution provider via a set of APIs. Additionally, the accelerator will help test AlphaHub and guide them through the process of bringing it to market. While the amount of the investment Alpha Payments Cloud received is undisclosed, the company’s valuation stands at $100 million.

About Alpha Payments Cloud’s participation, CEO Oliver Rajic says, “Working with Wells Fargo allows us to learn from one of the world’s most significant and experienced banks and managed service providers (MSPs) and draw upon its deep knowledge pool to continue to evolve our solution and stay ahead of the game.”

EyeVerify, a FinovateEurope 2016 Best of Show winner, is a Wells Fargo Accelerator success story. The Kansas City-based company is a graduate of Wells Fargo Accelerator’s inaugural class of 2014. Earlier this year, the banking giant announced it will deploy EyeVerify’s biometric authentication technology to corporate clients with commercial bank accounts.

Alpha Payments Cloud most recently took the stage at FinovateEurope 2016 in London where it demonstrated how banks, merchants and payment service providers can access more than 250 third-party solutions with the AlphaHub API. In February, the company partnered with Sentenial’s Nuapay to add SEPA Direct Debit functionality to the AlphaHub solutions library.