The paythru payments platform has raised significant investment through the network.
Paythru, an mcommerce firm that provides a mobile payments platform, has become the first to raise funds through the Restoration Alpha Angels network of investors.
The £700,000 will be used by paythru to help the company increase its efforts for growth.
The organization receiving the funds, paythru, is based in Buckinghamshire. It provides a cloud based mcommerce service that allows smartphones and tablets to be used as point of sale devices in order to allow businesses to accept digital transactions. The funds represented the first investment completed by the Restoration Alpha Angels. This investors network was created by the technology merchant bank called Restoration Partners. It was first formed by Ken Olisa in the second half of 2012.
The mcommerce company was pre-qualified for the investment which is now being officially announced.
The Restoration Partners deal was led by its principal, Sam Foreman. He stated that “The Restoration Alpha Angels is an adjunct to our existing merchant banking offering, and is an attractive proposition for both clients and our close network of active investors.” He explained that companies that are considered by the investors are highly screened and pre-qualified as a high quality investment opportunity.
Foreman feels that this allows both companies and investors to benefit from the significant experience, expertise, and funds that are available within the technology and mcommerce sector, while risk is kept to a minimum.
As an element of the deal, John Shackleton, the former CEO of Open Text, has taken a place on paythru’s board. The appointment of Shackleton to the board at paythru is meant to help the company to increase its capabilities for delivering “innovative, universal and secure payment solutions” to various retailers and consumers worldwide.
Foreman also explained that the mcommerce company “paythru have been a client for nearly two years and are an exciting, innovative and dynamic company in a sexy space. They’ve secured some fantastic clients in their target sectors, have a solid pipeline and big plans for the future, and so have created a lot of interest within the Alpha Angels.”