Providence Strategic Growth and Greater Sum Ventures Acquire Value Payment Systems

Providence Strategic Growth Invests in Wagepoint

September 9, 2020

Cloud & SaaS

Wagepoint has completed a majority recapitalization and strategic growth investment led by funds advised by Providence Strategic Growth (PSG), receiving more than $10 million of new capital. The investment will fund product innovation, scale go-to-market and customer support, and enable Wagepoint to pursue strategic acquisitions as it serves over 12,000 small-business customers across North America.

PSG Makes Growth Investment in Fidelity Payment Services; H.I.G. Growth Partners Remains Minority

July 19, 2022

Payments & Fintech

PSG (Providence Strategic Growth) has made a strategic growth equity investment in Fidelity Payment Services, the operator of the Cardknox omni-channel payments platform. Existing investor H.I.G. Growth Partners sold its majority stake but coinvested in the deal and will remain a minority shareholder; proceeds will support Fidelity's go-to-market acceleration and M&A plans.

Payroc Acquires Strategic Payment Systems

August 10, 2020

Payments & Fintech

Payroc LLC, backed by private equity firm Parthenon Capital, has acquired Strategic Payment Systems, Inc., a Canton, Massachusetts-based payments company. The deal brings SPS's merchant relationships and payments capabilities onto Payroc’s global acquiring and processing platform to expand integrated payments, payment facilitation and international processing capabilities.

Providence Strategic Growth Invests in ThreatConnect

June 3, 2019

Cybersecurity

Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, has made a strategic growth investment in ThreatConnect, an Arlington, Virginia-based provider of an intelligence-driven security operations platform. The funding will be used to accelerate ThreatConnect's go-to-market strategy, product development and international expansion as the company plans to increase staff by more than 50% over the next 12 months.

Evolv, Inc. Acquires 253 Payment Pros

August 31, 2022

Payments & Fintech

Evolv, Inc. (via its Evolv St. Louis office) completed a capital investment and acquisition of 253 Payment Pros, a merchant services/ISO business based in Kirkland, Washington. The deal brings 253 Payment Pros' merchant base and independent sales network into Evolv's platform and will integrate Evolv's digital marketing solutions to drive revenue growth across the western United States.

Greater Sum Ventures Makes Majority Investment in Fattmerchant

December 1, 2020

Payments & Fintech

Greater Sum Ventures (GSV), an entrepreneurial family office and growth equity investor, made a majority investment in Orlando-based payments technology provider Fattmerchant to fund product innovation and accelerate growth. Fattmerchant will continue to be led by CEO Suneera Madhani and the founding team while leveraging GSV's capital and operational support to expand its Omni and Omni Connect offerings for ISVs and SMB merchants.