Under the terms of the agreement, Flexpoint Ford is set to invest up to USD 40 million in the company through the purchase of Series A convertible preferred stock. This investment is set to be used to retire up to USD 16 million of the currently debt with the remainder available to invest in the company’s growth.
JetPay is a provider of vertically integrated services for businesses including card acceptance, processing, payroll, payroll tax filing and other financial transactions. JetPay provides customers with payment services, including batch processing, authorisation, cheque guarantee and cheque conversion.
Flexpoint Ford is a private equity firm focused on the financial services and healthcare sectors. Flexpoint Ford currently manages approximately USD 1 billion in committed capital on behalf of its limited partners.
In recent news, JetPay has gone live with the PaySecure service powered by the online PIN-debit technology provider Acculynk.
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