About CardConnect
CardConnect is a company based in King Of Prussia (United States) founded in 2006 was acquired by First Data in May 2017.. CardConnect has raised $50 million across 1 funding round from investors including Fiserv, Fintech Acquistion and FTV Capital. The company has 341 employees as of December 31, 2017. CardConnect has completed 2 acquisitions, including GoSmartPay and Princeton Payment Solutions. CardConnect offers products and services including CardPointe, CoPilot, and Clover. CardConnect operates in a competitive market with competitors including Stripe, Square, PayPal, Flutterwave and PayU, among others.
- Headquarter King Of Prussia, United States
- Employees 341 as on 31 Dec, 2017
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Cardconnect Corp.
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Annual Revenue
$589.32 M28as on Dec 31, 2016
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Net Profit
$-16.14 M-1477as on Dec 31, 2016
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EBITDA
$-10.3 M-303as on Dec 31, 2016
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Total Equity Funding
$50 M (USD)
in 1 rounds
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Latest Funding Round
$50 M (USD), Private Equity Round
Sep 16, 2010
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Investors
Fiserv
& 2 more
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Employee Count
341
as on Dec 31, 2017
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Investments & Acquisitions
GoSmartPay
& 1 more
- Acquired by
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Products & Services of CardConnect
CardConnect offers a comprehensive portfolio of products and services, including CardPointe, CoPilot, and Clover. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Enables in-store, online, and mobile payment acceptance for merchants.
Facilitates portfolio tracking and onboarding for sales agents.
Provides customized hardware for tailored business payment needs.
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Funding Insights of CardConnect
CardConnect has successfully raised a total of $50M through 1 strategic funding round. The most recent funding activity was a Private Equity Round round of $50 million completed in September 2010. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Private Equity Round — $50.0M
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First Round
First Round
(16 Sep 2010)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2010 | Amount | Private Equity Round - CardConnect | Valuation | FTV Capital |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in CardConnect
CardConnect has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Fiserv, Fintech Acquistion and FTV Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Private equity investment firm
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Founded Year | Domain | Location | |
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Payment processing and electronic commerce services are offered worldwide.
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Founded Year | Domain | Location | |
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Blank check firm focused on multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by CardConnect
CardConnect has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include GoSmartPay and Princeton Payment Solutions. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Payments processing services are provided for electronic transactions.
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2011 | ||||
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PCI compliant B2B payment solutions
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2007 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - CardConnect
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Cardconnect Comparisons
Competitors of CardConnect
CardConnect operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Stripe, Square, PayPal, Flutterwave and PayU, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Payment processing and card issuance solutions are provided for businesses.
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| domain | founded_year | HQ Location |
POS solutions are provided for retail businesses.
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| domain | founded_year | HQ Location |
Online payment solutions are offered to consumers and businesses.
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| domain | founded_year | HQ Location |
Provider of payment processing solutions for businesses
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| domain | founded_year | HQ Location |
Online payment processing and credit solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Payment processing and treasury management solutions are offered to businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Cardconnect
Frequently Asked Questions about CardConnect
When was CardConnect founded?
CardConnect was founded in 2006 and raised its 1st funding round 4 years after it was founded.
Where is CardConnect located?
CardConnect is headquartered in King Of Prussia, United States. It is registered at King Of Prussia, Pennsylvania, United States.
Who is the current CEO of CardConnect?
Jeff Shanahan is the current CEO of CardConnect.
Is CardConnect a funded company?
CardConnect is a funded company, having raised a total of $50M across 1 funding round to date. The company's 1st funding round was a Private Equity Round of $50M, raised on Sep 16, 2010.
How many employees does CardConnect have?
As of Dec 31, 2017, the latest employee count at CardConnect is 341.
What is the annual revenue of CardConnect?
Annual revenue of CardConnect is $589.32M as on Dec 31, 2016.
What does CardConnect do?
CardConnect is a full-service provider of electronic transaction processing services. CardConnect offers CardSecure solution which is a combination of Point-to-Point Encryption (P2PE) with a patented tokenization process and PCI-certified vault storage. Other payment acceptance solutions include PoS, mPoS, virtual terminal and eCommerce solutions. It also offers ERP security technology for the payments industry. CardConnect claims to process billions in transactions each year for more than 50,000 businesses across the globe. Adobe, GE, Jelly Belly, Hoover, AmeriGas are among its customers. FTS Holding Corporation is the parent company. FinTech Acquisition Corp. will acquire fully CardConnect for 350M, by end of June 2016 and will be reanamed as CardConnect Corp.
Who are the top competitors of CardConnect?
CardConnect's top competitors include Stripe, PayU and Flutterwave.
What products or services does CardConnect offer?
CardConnect offers CardPointe, CoPilot, and Clover.
How many acquisitions has CardConnect made?
CardConnect has made 2 acquisitions, including GoSmartPay, and Princeton Payment Solutions.
Who are CardConnect's investors?
CardConnect has 3 investors. Key investors include Fiserv, Fintech Acquistion, and FTV Capital.
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