Valitor, an Iceland-based payment solutions provider, has raised $100 million in a funding round. Expanding its presence in Europe and the United States, investing in research and development, and acquiring other businesses are the key areas where the company plans to allocate the funds.
Valitor’s history and services
Valitor founded a local Icelandic card processing company in 1983. Today, the company provides payment solutions to businesses of all sizes, from small merchants to large corporations. Its services include card acquisition, payment gateway, fraud prevention, and loyalty programs.
Valitor’s expansion plans
With $100 million in funding, Valitor plans to expand its presence in Europe and the United States. Expanding its operations in existing markets and entering new ones are the methods the company aims to use to increase its market share in Europe. Valitor plans to build a sales team in the United States and develop partnerships with local banks and payment processors.
Investment in research and development
Valitor plans to invest a significant portion of the funding in research and development. The company aims to develop new payment solutions that meet the evolving needs of its customers. Valitor also plans to invest in technology that improves its fraud prevention capabilities and enhances the user experience of its payment solutions.
Acquisition of other businesses
Valitor plans to use some of the funding to acquire other businesses that complement its existing services. The company aims to develop businesses that offer new payment solutions or have a solid customer base in a specific industry. Valitor expects the acquisition strategy to expand its market share and strengthen its position as a leading payment solutions provider.
Valitor’s growth in recent years
Valitor has experienced significant growth in recent years. In 2020, the company processed over $3 billion in payments and had over 14,000 active merchantsThe company has driven its growth by focusing on innovation, customer service, and strategic partnerships. Valitor has also benefited from the growing demand for digital payments, which has accelerated due to the COVID-19 pandemic.
The $100 million in funding is a significant milestone for Valitor and demonstrates the company’s potential for further growth. With its expansion plans, investment in research and development, and acquisition strategy, Valitor is well-positioned to capitalize on the growing demand for digital payments. The company’s focus on innovation and customer service will also be critical to its success in the highly competitive payment solutions market. Overall, Valitor’s future looks bright as it continues expanding its presence and offerings to businesses worldwide.