3TS Capital Partners, a private equity and venture capital firm, has acquired a minority stake in Avangate, a Netherlands-based developer of e-commerce and channel management technology for software companies, via the former`s Technology in Central and Eastern Europe Fund S.C.A. SICAR, informally known as 3TS Cisco Growth Fund.
As a result, Avangate will receive EUR 4 million in equity within the next 6 months. With the capital gathered in the funding round, the company plans to extend the reach of its services across North America and Europe, as well as focus on the development of new technologies to support its growing customer base.
In an exclusive interview with The Paypers, Laurentiu Ghenciu, the company`s VP of Sales and Marketing, states that “we will grow and continue to focus on integration, optimization, value added services and improved business efficiency for our clients. We will continue our strategy of expanding into key global regions, which includes adding new languages and payment methods in the Avangate ordering interface. This is in line with our strategy to proactively support our clients' expansion plans and help them approach international markets with localized solutions.”
With sales offices in the US and Taiwan and an operational and development office in Romania, Avangate provides an e-commerce platform, a partner management system and a global software affiliate network. The company is currently serving more than 1500 software vendors, including BitDefender, Kaspersky.ro, Lavasoft, Markzware and Iobit. As far as payment methods are concerned, Avangate accepts major debit and credit cards (VISA, MasterCard, American Express, PostePay, Discover, JCB, Diners Club, SOLO, Carte Bleue), Directebanking.com, check, PO, PayPal, iDEAL, Alipay, TrialPay and bank transfer, with more payment methods to be added soon.
About Avangate:
Company founded: 2005 HQ: Amstelveen, The Netherlands Offices in Romania, USA, Taiwan Clients: 1500 + (software companies), Affiliates: 22,000 Employees: 70 (and aiming to grow to 110 by the end of 2011)