CellPoint Digital Secures $30 Million Funding Round to Accelerate Modern Airline Retailing Transformation
Latest funding round supports launch of innovative Offer Order Settle Delivery (OOSD) platform and global expansion
LONDON, Nov. 21, 2024 /PRNewswire/ -- CellPoint Digital, the leading provider of payment solutions to the airline and travel industries and a global pioneer of Payment Orchestration, has secured $30 million in funding from Toscafund and Penta Capital. This latest investment will accelerate the launch of CellPoint Digital's revolutionary Offer Order Service Delivery (OOSD) payment orchestration platform, purpose-built to power the Travel industry's transformation toward modern airline retailing.
This latest funding round highlights the growing demand for advanced payment expertise and payment orchestration solutions in the global travel industry, where CellPoint Digital stands as the market leader. The company's position in the dynamic air travel, hospitality, cruise, OTA, and tour operator sectors is reinforced by its partnerships with prominent brands, including Virgin Atlantic, Southwest, Sabre, Cebu Pacific, avianca and most recently, Riyadh Air, VoePass and La Compagnie.
Investment Fuels Global Expansion and Revenue Growth
With this round of funding, CellPoint Digital will accelerate its global expansion to meet the increasing worldwide demand for its services. The investment will enable the company to intensify its focus on optimising payment and money movement services for its clients whilst expanding its Alternative Payment Method (APM) hub to service the growing needs of its partners. This expansion will support CellPoint Digital in delivering on its already won contracts, including the recently announced partnership with Riyadh Air, and fulfilling its growing partnership with Sabre.
"As our company has grown rapidly in the last few years, we have delivered our industry-first payment orchestration solution to more travel brands worldwide, supporting them in optimising payment processes, driving profitability, and improving their customers' experience," said Kristian Gjerding, CEO of CellPoint Digital. "This latest investment from our valued partners at Toscafund and Penta Capital not only acknowledges our growth and the ongoing strong demand for our solutions in the travel industry but also paves the way for more global expansion and success within the market, positioning the company for long-term scalability."
Leading Payments Technology for the Travel Ecosystem
CellPoint Digital's payment orchestration solution helps travel brands increase top-line revenue by improving authorisation rates and providing a frictionless payment experience in the booking path, presenting customers with the payment methods they want to use, no matter where they are in the world. The platform also allows merchants to adopt a multi-acquirer payments model that opens up new growth opportunities, uses intelligent routing to minimise transaction costs (especially on cross-border transactions), and provides control and transparency across all payment processes.
"CellPoint Digital has continually solidified its leading market position and demonstrated its ability to expand aggressively and responsibly," says Steven Scott, Founding Partner of Penta Capital. "As we forecast demand for CellPoint Digital's solutions to continue across the global travel sector, we are confident that this investment will represent another compelling growth opportunity."
Payment Solutions Optimised for Offer/Order Travel Retailing
CellPoint Digital's new OOSD platform represents a significant advancement in airline commerce capabilities, enabling:
- Seamless transition from legacy PSS to modern Offer and Order architecture
- Payment-driven offer creation and management across all channels
- Unified payment orchestration supporting diverse payment methods
- Real-time order management and fulfilment
- Data-driven personalisation at scale
To meet the evolving needs of the travel industry, CellPoint Digital continues to enhance its offer and order retailing capabilities, operating in a travel landscape increasingly defined by new distribution capability (NDC). This innovative approach, embodied in the OOSD platform, has been crucial in securing partnerships with forward-thinking airlines like Riyadh Air and Southwest Airlines, positioning CellPoint Digital at the forefront of next-generation travel solutions.
About CellPoint DigitalCellPoint Digital is a fintech leader whose main solution is a Payment Orchestration Platform which optimises digital payment transactions from cards and enables new payment options. Merchants can scale their own payment ecosystem across the world, optimise the routing of each transaction, increase conversion rates and minimise payment costs. CellPoint Digital has offices in Copenhagen, Dallas, Dubai, London, Miami, Pune and Singapore. Learn more at www.cellpointdigital.com.
About Toscafund Asset Management LLPToscafund Asset Management LLP, founded in 2000 by Martin Hughes, is a specialist investment manager with a circa $4.5bn AUM. Specialist areas of investment include listed equities in the financials and payments sectors, growth capital for private companies, UK commercial property and bespoke private equity deals. Toscafund has offices in London, Manchester, Melbourne, New York and Hong Kong.