Emerging markets account for 85% of the world’s population and 90% of people under age 30.
Expansion into these markets is a key growth strategy for many merchants.
“We see strong demand for high performance, reliable payment solutions in growth markets. Countries like India, Brazil, Malaysia andChina are complex because of the range of local methods, regulations, tax, remittance, and optimization. Emergent Payments has strong technology, deep payments expertise, and opportunity to really scale,” Mitch Davis, CEO Emergent Payments said.
“This financing will accelerate the growth of our footprint in emerging markets, in the last 12 months alone we opened offices in Nigeriaand Bangladesh and we’re looking ahead to our next market move. It will also help facilitate the expansion of our research and development efforts and our focus on payment method optimization.”
“RGH’s investment in Emergent Payments advances our strategy to create a global ecosystem for tokenized, responsibly sourced gold,” Luke Sully, RGH Head of Stakeholder Relations said.
“Their geographic reach and payments platform increases our ability to transact with hundreds of millions of customers on a reliable and consistent basis.”
Emergent Payments is based in Palo Alto with development centers in North Carolina and Shanghai, as well as international offices in Luxembourg, India, China, South Korea, Brazil, Singapore, Malaysia, Nigeria, Bangladesh, and Japan.