Financing will fuel the payment and data security leader’s product, continued growth in US and internationally, and opportunistic acquisitions
Bluefin, the leading provider of payment and data security technologies, including PCI-validated point-to-point encryption (P2PE) and ShieldConex® data tokenization, announced $25 million in growth financing led by Macquarie Capital Principal Finance (“Macquarie”), a division of Macquarie Group Limited (ASX: MQG; ADR: MQBKY).
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Macquarie Group is a global financial services group operating in 31 markets in asset management, retail and business banking, wealth management, leasing and asset financing, market access, commodity trading, renewables development, investment banking and principal investment.
“Bluefin has developed industry-leading data and payment protection technologies, which are crucial in the global climate of rising data breaches and cyberattacks against organizations of all sizes,” said Anand Subramanian, Managing Director, Macquarie Capital Principal Finance. “We are very pleased to partner with this innovative company to expand their cybersecurity product suite and fuel continued growth in the US and internationally.”
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Bluefin specializes in omni-channel encryption and tokenization solutions to secure Personally Identifiable Information (PII), Protected Health Information (PHI) and financial / card data upon entry, in transit, and in storage. The company has over 130 connected partners offering their payment and data security solutions in 32 countries.
“The average global cost of a data breach in 2019 was $3.86 million, with that number quickly rising to $8.64 million for US companies,” said John M. Perry, CEO, Bluefin. “Bluefin is dedicated to remaining at the forefront of technology and solution development in the fight against breaches and cyberattacks. Our partnership with Macquarie will enable Bluefin to not only introduce more solutions to protect Ecommerce, online and point-of-sale transactions, but also to make these solutions available globally through our extensive partner network and Bluefin’s products. We look forward to leveraging Macquarie’s deep financial and global expertise in this next phase of company growth.”
Macquarie joins current investors Napier Park Global Capital (“Napier Park”) and Camden Partners.
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