Red Door Capital Partners LLC, an independent private equity firm founded in 2019 with the mission to allow real, break-through access for independent investors to the lucrative private equity market, announced its first transaction with PAY2DAY Solutions Inc. dba Authvia.
Read More: TerraPay Announces Readiness for the New World by Strengthening Management
Under the terms of the agreement, Red Door Capital Partners will provide a bridge loan and permanent financing of up to $7,000,000.00 (U.S. Seven Million Dollars) to fund Authvia’s current growth plan. “Fintech has proven to be a stable alternative investment market and Authvia solves a real problem in today’s business environment,” said Richard Wolpow, managing partner at Red Door Capital Partners. “Though adoption of Authvia’s contactless conversational commerce platform was already on the rise, the Covid-19 pandemic has increased demand for the solution.”
Read More: GlobalFintechSeries Interview with Nick Cowan, CEO of the GSX Group
Wolpow also noted Authvia’s partners include the ‘who’s who’ of top global payment companies and software providers. “Our commitment will help support the exciting demand for message-based payment solutions leveraging Authvia’s API’s,” he continued.
“We’re experiencing rapid adoption as businesses clamor for innovative and safe ways to communicate and drive payment transactions without the need for a terminal or other traditional payment hardware,” added Chris Brunner, founder and chief executive officer at Authvia. “I’m excited to have the Red Door Capital team officially onboard. Their focus on enterprise partnerships and guidance on operational, financial and strategic planning, makes them a perfect partner in our mission to bring intelligent message-based payment solutions to market rapidly.”
Read More: GlobalFintechSeries Interview with Patrick Turiano, Director of Marketing at Paysafe Group
