ePassi Payments announced strategic investment of $45M from Bregal Milestone and First Fellow Partners
ePassi Payments, a Helsinki, Finland-based provider of employee benefits mobile payments, announced completing a strategic growth investment round totalling EUR 41.5 million ($45M).
The funding was provided by from Bregal Milestone and First Fellow Partners. Risto Virkkala, the founder of ePass, will continue to be a major shareholder and chairman of the Board of Directors. Bregal Milestone participates in the Board of Directors and Risto Siilasmaa acts as a Board Advisor. Pekka Rantala, the recently appointed CEO of ePass, is also investing in the company.
ePassi Payments Oy was established in 2007 as a spinoff of Eficode Oy, and built SporttiPassi, a payment system built around mobile phones for distributing sports vouchers. Over the years, it expanded and became ePassi, a mobile payment solution for subsidized employee benefits, acting as a unique multi-wallet solution combines all the benefits under one service.
ePassi has expanded its offering of personnel benefits and mobile wallet solutions, has customers in Finland and Sweden, and operations in Poland and Spain.