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Online Payments

Pineapple receives USD 35 mln investment from Providence Strategic Growth

Tuesday 12 September 2017 | 10:09 AM CET

Pineapple Payments, a service provider of omnichannel payment processing technology solutions, has secured a USD 35 million from Providence Strategic Growth (PSG).

Pineapple Payments brings payment technology and payment services to merchants in the payment processing landscape. Pineapple targets B2B, B2G, and Integrated Software Vendors (ISV).

Providence Strategic Growth (PSG) is a growth equity affiliate of Providence Equity Partners, a global private equity firm with more than USD 50 billion in assets under management.

PSG is focused on middle market technology-enabled service companies and specialised payment enablement platform companies. PSG is the first institutional investor for Pineapple Payments.

Pineapple Payments has executed LOIs with three organizations that together serve 30,000 merchants and process 11 billion dollars annually. These deals will allow Pineapple to leverage the best technology and product offerings in the industry to enhance the merchant-facing payments experience.