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Clear2Pay secures a capital increase of 5.35
million euro.
Clear2Pay selected by Tornado Insider as
one of Europe's most promising start-ups.
Brussels, 21 May 2003 - Clear2Pay, the Brussels-based specialist
in payments solutions for the international financial industry,
announced today the successful completion of a new capital increase
of 5.35 million euro.
In addition the management of the company and Big Bang Ventures,
which already invested in a preceding round, Omega Pharma and Mr.
Christian Dumolin also subscribed to the capital increase. Mr. Christian
Dumolin, Chairman of TrustCapital, Chairman of Koramic and Regent
of the National Bank of Belgium, joins the Board of Directors of
Clear2Pay to support the future growth of the company.
In spite of the difficult economic climate, Clear2Pay has succeeded
in attracting new capital resources. With this capital increase,
the investors have clearly confirmed their trust in the vision of
Clear2Pay on the development of payment and payment-related systems
and in the capacities of the management team to play a prominent
role in the company’s long-term growth.
This investment round brings the total raised capital to 7.25 million
euro. In the first fiscal year 2002, Clear2Pay realized revenues
of 1 million euro. In 2003 Clear2Pay will realize a multiple of
that amount.
Clear2Pay was also selected for the Tornado100 list. This list represents
a selection of the most promising and innovative emerging companies
in the European IT and biotech services. According to Tornado Insider
the selected companies have clearly demonstrated "that the
technology they are commercializing today, will change the way things
are done tomorrow. They set the pace, introduce innovation and are
changing the way we work and live".
At the end of 2002 Clear2Pay acquired Tectrade. The integration
of Tectrade will be finalized by the end of June 2003. Both companies
will be integrated into one common management structure. The name
‘Tectrade’ is changed into ‘Clear2Pay Services’.
The clientele and product lines of the company are being preserved
and will be further developed within the new company structure.
The new capital and the integration of Tectrade will enable Clear2Pay
to further consolidate its leading role in the field of ‘financial
value chain’ solutions. The additional financial resources
will be used, among other things, to develop new generations of
the core products of Clear2Pay and further develop its commercial
activities.
"The successful implementation of the Visa Direct environment
in London, is proof that we are indeed able to implement the Clear2Pay
vision in existing and complex environments. Financial service providers
can literally make quite some money by improving efficiency in their
payment systems and integration with their customers. This is an
area where we at this very time, when inter-bank fees are under
heavy scrutiny, need to focus on. The bilateral payment systems
we know today automate existing processes and cannot deliver that
promise. I strongly believe in what I call ‘the New Wave’:
internet based payment systems which handle transactions at a multi-lateral
level. The bank retains and strengthens its role as the primary
payments processor and customer relationship owner, whilst at the
same time enhancing efficiency, improving ease of use and cutting
costs." said Michel Akkermans, CEO and Chairman of Board of
Directors of Clear2Pay.
According to Jürgen Ingels, co-founder and CFO of Clear2Pay
"the successful capital increase is a fundamental milestone
for the further internationalization of the company. It reinforces
and accelerates the innovative work that Clear2Pay provides within
the payments and e-commerce industry in Europe".
***
About Clear2Pay
Clear2Pay is an innovative e-finance company focused on delivering
globally applicable solutions for secure, timely electronic payments.
Headquartered in Brussels, Belgium, the company's focus is to facilitate
banks and financial organizations in their provision of electronic
payments services. Clear2Pay's technology helps to reduce transactions
processing costs, and to deliver new, compelling e-payment services
in a competitive way. Clear2Pay's payment solutions offer organizations
easy, branded ways for their customers to pay online: from complex
trade-supporting business-to-business environments, through e-commerce
applications, to retail payments and micropayments. Functions embrace
payments origination, reporting, linkage with back-office processing
systems, clearing, netting and settlement. In September 2002, the
company announced a multi-million euro contract with Visa EU for
the development of its new cross-border money transfer service,
Visa Direct.
More information is available on www.clear2pay.com.
About Clear2Pay Services
Clear2Pay Services (formally known as Tectrade) designs, builds
and hosts transaction platforms that enable business partners and
financial institutions to conduct secure e-transactions. Since its
foundation in 1991, it has supplied advanced applications to its
clients including, ABN AMRO, Artesia Bank, Bank Card Company, FNAC,
Komatsu, Toyota, Unilever and 3Suisses. More information is available
on www.clear2pay.com.
About Christian Dumolin
Christian Dumolin is Chairman of the Board of Directors and Managing
Director of TrustCapital. He is also Managing Director of Koceram
NV and holds directorships in various listed and unlisted companies.
He is a Regent of the National Bank of Belgium.
About Tornado Insider
Tornado Insider was founded in late 1998 as the first media company
serving the new pan-European technology industry, providing entrepreneurs,
investors, service providers and other participants with the information
they need to succeed in Europe’s high-tech economy. By connecting
all the relevant players across industry and geographic boundaries
through a rich mixture of news, analysis, research, videography
and conferences, Tornado Insider plays a vital role in helping Europe’s
entrepreneurs and investors build great companies. Tornado Insider
provides industry watchers around the world with a single-source,
pan-European view of high-tech Europe featuring primary research,
editorial coverage and events.
More information is available on www.tornado-insider.com.
Contacts for more information about Clear2Pay
and Clear2Pay Services
Kimball Felix
Marketing and Communications
Clear2Pay
Zikkelstraat 64 rue de la Faucille
1970 Wezembeek-Oppem
Belgium
T: +32 2 759 94 96
Clear2Pay Services
Kpt. Karel Maenhoutstraat 77A
B-9830 Gent (Sint-Martens-Latem) Belgium
T: +32 9 248 30 30
F: +32 9 248 30 31
E:
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