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3v transactions ready to expand to US

Monday, October 15 09:18:57

Dublin-based 3V Transaction Services has secured E5m in funding from TTV Capital to finance its expansion into the US and European markets next year. 3V specialises in developing payment platform technologies which enable mobile operators and online retailers to offer increasingly innovative payment procedures.

Commenting on the announcement, 3V CEO, Kieron Guilfoyle, said, "This additional funding will allow us to scale our business to meet the growing needs of mobile operators and online retailers as they seek to enter the payments market across the globe. It will also help underpin our position as a leading innovator in payment platform development." 3V was established in 2004 and has operations in six countries - Ireland, the UK, Holland, Spain, Canada and Germany. Its clients include O2, Visa, PayPal and eBay. Other investors in the company include Enterprise Ireland, Balderton Capital and Atlas Ventures.

Leo McAdams, a manager at the financial services department of Enterprise Ireland, said: "The payments industry is a strong and growing sector in Ireland and 3V is an example of a payments company that continues to secure international success."