PALO ALTO, Calif., March 28, 2017 /PRNewswire/ -- Emergent Payments, Inc. ("Emergent Payments"), a global payments provider, today announced it closed over $5 million of equity funding from existing investors and Responsible Gold Holdings LP ("RGH").
Emergent Payments helps digital merchants grow their business in high growth and complex emerging markets like Latin America, Asia, India, and Eastern Europe – markets with the potential for $1.1 trillion in e-commerce payments.
Emerging markets account for 85% of the world's population and 90% of people under age 30.
Expansion into these markets is a key growth strategy for many merchants.
"We see strong demand for high performance, reliable payment solutions in growth markets. Countries like India, Brazil, Malaysia and China are complex because of the range of local methods, regulations, tax, remittance, and optimization. Emergent Payments has strong technology, deep payments expertise, and opportunity to really scale," Mitch Davis, CEO Emergent Payments said.
"This financing will accelerate the growth of our footprint in emerging markets, in the last 12 months alone we opened offices in Nigeria and Bangladesh and we're looking ahead to our next market move. It will also help facilitate the expansion of our research and development efforts and our focus on payment method optimization."
"RGH's investment in Emergent Payments advances our strategy to create a global ecosystem for tokenized, responsibly sourced gold," Luke Sully, RGH Head of Stakeholder Relations said.
"Their geographic reach and payments platform increases our ability to transact with hundreds of millions of customers on a reliable and consistent basis."
Emergent Payments' remains focused on delivering a high level of service and experienced strategic advice.
"We like to see ourselves as a part of our merchant's extended payments team. The team has a deep merchant payments background in international markets, and we pride ourselves on delivering a high level of service and payment solutions tailored to our clients' individual business requirements," said Rossini Zumwalt, Chief Payment Officer at Emergent Payments.
About Emergent Payments
Emergent Payments delivers optimized payment solutions in high growth markets. The company helps merchants and partners grow revenues and open new markets. Emergent Payments is based in Palo Alto, California with development centers in North Carolina and Shanghai, as well as international offices in Luxembourg, India, China, South Korea, Brazil, Singapore, Malaysia, Nigeria, Bangladesh, and Japan.
Responsible Gold uses its blockchain platform to verify the origin and authenticity of gold kilobars it sources from responsible miners and refiners and to mint electronic gold tokens ("G-Coins"). These tokens provide a secure alternative to holding and moving value around the world on a high-speed and small unit basis. www.gcoin.io
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/emergent-payments-raises-over-5-million-to-expand-its-global-payments-platform-300429991.html
SOURCE Emergent Payments