ViewPoint pays out for Dovetail
European technology-focused private equity firm ViewPoint Capital Partners has invested in payment services hubs company Dovetails
- Published 8 September 2011 in Mid Market.
European technology-focused private equity firm ViewPoint Capital Partners has invested in payment services hubs company Dovetails. Exact financial details are unknown, but the investment is understood to be between $10m (€7.1m) and $20m.
Founded in 1999 with offices in London and New Jersey, the Dovetail payment services hub automates the processing of a wide range of payments, from bulk ACH clearing to RTGS settlement.
“We have been impressed with Dovetail’s proven ability to grow with top-tier international banks and to deploy its next generation payment technology in global lighthouse installations,” said Urs Ehrismann, managing partner of ViewPoint.
The fresh capital will support Dovetail’s growth.
Piper Jaffray acted as financial adviser to the board of Dovetail in the transaction and Taylor Wessing acted as legal adviser. Olswang provided legal advice to ViewPoint.