|TPG Announces Partnership with FreedomPay|
San Francisco and Fort Worth, Texas – October 9, 2018 – TPG, a global alternative asset firm, today announced it has made an investment in FreedomPay, a global leader in commerce technologies. Terms of the transaction were not disclosed.
“FreedomPay provides sophisticated technology that enables the most complex organizations to efficiently manage their payments infrastructure,” said Arun Agarwal of TPG. “The company’s technology-first culture, experienced management team, and innovative platform sets them apart in today’s rapidly growing digital payments space,” said Eric Noeth of TPG.
Founded in 2000, FreedomPay provides cloud-based payments solutions for the entire commerce ecosystem. The omni-channel payments and incentives platform provides fully-integrated, processor agnostic technology that helps large and leading enterprises manage their payments infrastructure, security, analytics, and marketing offers. FreedomPay works with global leaders across retail, hospitality, gaming, education, healthcare, and financial services.
“TPG has deep experience partnering with leading technology companies to strategically enhance and grow their businesses,” said Tom Durovsik, Founder and CEO of FreedomPay. “Their partnership is a testament to our strong growth and differentiated platform. We look forward to working together to continue to provide smart, seamless, and insightful payments solutions for enterprises across the globe.”
Some of TPG’s current and past investments in the technology sector include Airbnb, C3 IoT, Tanium, Uber, and Zscaler.
RBC Capital Markets acted as financial advisor to TPG in this transaction.