NetworkNewsBreaks – Payment Club Announces $7M F
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Posted On: 08/24/2018 8:20:53 PM
NetworkNewsBreaks – Payment Club Announces $7M Financing Through Partnership with Net Element, Inc. (NASDAQ: NETE) Subsidiary
Payment Club, Inc. this morning announced the completion of a $7 million financing led by its co-founders in partnership with Unified Payments, a subsidiary of Net Element (NASDAQ: NETE) and its institutional investor. Payment Club’s co-founders lead the financing with $2 million in equity. Unified Payments, through its partnership with its institutional investor, arranged a $5 million credit facility for Payment Club to drive its growth initiatives, bringing total debt and equity financing to $7 million. Payment Club intends to utilize the funding by expanding nationwide, hiring up to 100 membership advisors, and creating show rooms where business owners can gain information on the different memberships the company plans to offer and experience the various products. “Payment Club is an exceptional company that is revolutionizing the way merchants pay for accepting cashless transactions, and we look forward to a long term partnership with the Payment Club team as they grow the business,” Vlad Sadovskiy, president of integrated payments for Net Element stated in the news release.
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Payment Club, Inc. this morning announced the completion of a $7 million financing led by its co-founders in partnership with Unified Payments, a subsidiary of Net Element (NASDAQ: NETE) and its institutional investor. Payment Club’s co-founders lead the financing with $2 million in equity. Unified Payments, through its partnership with its institutional investor, arranged a $5 million credit facility for Payment Club to drive its growth initiatives, bringing total debt and equity financing to $7 million. Payment Club intends to utilize the funding by expanding nationwide, hiring up to 100 membership advisors, and creating show rooms where business owners can gain information on the different memberships the company plans to offer and experience the various products. “Payment Club is an exceptional company that is revolutionizing the way merchants pay for accepting cashless transactions, and we look forward to a long term partnership with the Payment Club team as they grow the business,” Vlad Sadovskiy, president of integrated payments for Net Element stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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