Planet, a global integrated payments leader, will accelerate its growth strategy with a new investment from Advent International (Advent), one of the largest and most experienced global private equity investors. Advent has agreed to co-ownership with Eurazeo, a leading global investment company.
Planet provides integrated digital payment services on a unique single platform that offers acquiring, processing, digital wallets, VAT refund, and currency conversion services to merchants in the retail, hospitality, food & beverage, parking, and financial sectors. By partnering with Planet, merchants enhance their customers’ omnichannel experience, while generating additional revenue from value-added payments services.
Advent and Eurazeo share a common vision for the business – to accelerate Planet’s existing strategy, deliver new innovations to customers faster, and further develop Planet’s position as a global leader in integrated payments.
Marc Frappier, Eurazeo Managing Partner and Board member, said: "Six years ago, we saw the potential in Planet to become a world-class payments business delivering innovative products and digital services across multiple vertical sectors. Since then, we have been delighted with Planet's strategic direction and growth trajectory."
Planet is a revenue-generating payments service and technology provider. Planet helps businesses meet the needs of their customers by simplifying complex payments, helping people spend freely. Planet serves 550,000 merchants and 100 partner banks across more than 60 markets on five continents, Planet provides a single payments platform that offers acquiring, VAT Refund and Currency Conversion services. Planet is part of the Eurazeo portfolio of growth companies.
Find out more here: www.PlanetPayment.com