Irish VC backs early stage technology company

30th of April 2009 by admin

Delta has invested €1.5m [from its €100m fund] in Branded Payment Solutions Limited – which is a MBO from Payzone of its Open Loop Gift business.

According to this disclosure – In September 2008 Payzone entered into an agreement to dispose of its Open Loop Gift business. The business was sold to Branded Payment Solutions Limited, a company controlled by Tim Murphy, the group’s outgoing COO for €420,000 payable in 2010 – 2013 with a further contingent elements. The terms of the sale provide that the group commit to payment of certain expenses related to the business up to 31 January 2009.

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2 Responses to “Irish VC backs early stage technology company”

[...] Zapa has also raised €2.5m from Delta Partners, which follows on from Delta’s investment in the MBO of Payzone, Branded Payment Solutions. [...]