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.