Ingenico secures €150M to fund AXIUM and cloud platform

Ingenico has secured €150 million from a PIMCO-led group of global investors to reset its capital structure and fund product development, scale its AXIUM Android device family and Ingenico 360 cloud platform, and expand customer-facing teams and offices worldwide.

The company said the new capital will strengthen its balance sheet and support accelerated development of payment acceptance technology. The agreement follows the recent appointment of Floris de Kort as chief executive, who has prioritized cloud platforms and a common device architecture.

AXIUM is Ingenico’s flagship family of Android point-of-sale devices for retailers, banks, acquirers and fintechs. The devices use a common architecture designed to provide security, durability and the ability to receive Android upgrades in the field. They are built to deliver integrated payment flows and a consistent user interface across models.

Ingenico 360 is a unified cloud platform that combines device management, transaction services, applications and analytics. The platform is intended to centralize device administration and service delivery for merchants and financial partners.

The company operates a Developer Journey program that gives independent software vendors and partners access to APIs, tools and documentation for building, certifying and launching services on Ingenico hardware and platforms. Executives said the new funding will support faster time-to-market for third-party services and certification work across markets.

As part of the capital plan, Ingenico will grow its Customer Excellence team and open new sites in London, San Francisco and Istanbul. These offices will host account managers, solutions engineers and customer support managers to increase local service capacity and speed deployment and support for partners and customers.

Floris de Kort, chief executive officer, commented: “With a strong balance sheet and new capital in place, we can execute better and invest in the areas that will define our next phase. We have the foundation, the priorities, and a team that knows how to deliver. I’ve never been more confident that Ingenico’s best years are ahead of us.”

Ingenico describes itself as a global provider of payment acceptance solutions and said the capital will be applied to product innovation and geographic expansion as it modernizes terminals and cloud services for merchants and financial partners.