FreedomPay, Inc., the world leader in cashless payment and loyalty solutions to the nation’s largest food service providers, Fortune 1000 corporations, healthcare facilities, universities, sports & entertainment and the military, announced that the company has received $7 million in funding from affiliates of The Goldman Sachs Group Inc. and previous investor Nokia Venture Partners.
“The cashless payment industry is experiencing explosive growth around the world. FreedomPay is extremely well positioned with the technology and the management team to capitalize on this expanding market,” said Joe DiSabato, a Managing Director of Goldman Sachs.
“This new infusion of capital will be used to meet the growing demand for FreedomPay solutions across a growing client base. Cashless payments, in particular tap and go solutions has emerged as one of the fastest growing segments of electronic payments,” said Tom Durovsik, CEO and Founder of FreedomPay.
About FreedomPay, Inc.
FreedomPay, Inc. is the world leader in business process outsourcing (BPO) to the global food service market delivering front of the house and back office applications built on a world class payment, loyalty and settlement services infrastructure. Learn more about FreedomPay Cashless Payments @ .
About The Goldman Sachs Group (NYSE: GS)
Goldman Sachs is a global leader in corporate equity and mezzanine investing. To date, Goldman Sachs has formed ten investment vehicles aggregating over $17 billion of capital. These investment vehicles seek long-term capital appreciation by committing equity to high-quality companies with superior management in a variety of situations, including leveraged buyouts, recapitalizations, and growth investments to fund acquisition or expansion. Goldman Sachs invests across a broad range of industries and creates value through meaningful involvement with portfolio companies’ strategic decision-making and operating philosophy. For more information, please visit .
About Nokia Venture Partners
Nokia Venture Partners is a leading global venture capital firm based in Menlo Park, California. Backed by a number of value add limited partners, the fund leads investments in early stage mobile technology companies around the world. Launched in 1998, Nokia Venture Partners has a strong track record of leveraging its combined resources, experience and contacts to help build successful mobile businesses. The firm also has offices in Washington, DC, London, Helsinki, Hertzelia, Seoul, Hong Kong and Tokyo. For more information, please visit .