Bluefin Payment Systems announced that Goldman Sachs Specialty Lending Group led a debt and equity growth financing in the company, joining existing investors Financial Partners, which is the private equity group for Napier Park Global Capital, and Camden Partners.
Goldman Sachs Specialty Lending Group (“GSSLG”), founded in 2004, operates as the middle-market financing and investing platform within The Goldman Sachs Group, Inc. GSSLG’s focus is on delivering flexible, reliable capital to the middle-market while leveraging the firm-wide resources of Goldman Sachs. GSSLG lends and invests Goldman Sachs’ capital through stand-alone first-line, second-line, uni-tranche and junior capital investments directly to mid-sized companies across the United States and Canada.
Bluefin specializes in developing secure payment technology that protects consumer cardholder data, protects the corporate brand, and reduces Payment Card Industry (PCI) Data Security Standard (DSS) scope and compliance. In March 2014, Bluefin became the first company in North America to receive PCI validation for a Point-to-Point Encryption (P2PE) Solution, PayConex P2PE. PayConex P2PE encrypts cardholder data within the point of entry, preventing clear-text cardholder data from being available in an organization’s system and network.
Bluefin will use proceeds from the funding to bolster its investment in Security Solutions. In addition to P2PE being available through the company’s PayConex gateway, Bluefin introduced DecryptxTM in November 2014. Decryptx, the company’s Decryption as a Service (DaaS) product, enables P2PE for Enterprises and Tier 1 Merchants with no change to the businesses’ current acquiring relationship and no integration to the PayConex gateway required.
Bluefin Payment Systems is headquartered in Atlanta, with offices in Tulsa, Chicago and New York.
Bluefin Payment Systems is a leading provider of secure payment technology for enterprises, financial institutions and small-medium sized businesses worldwide. Bluefin’s proprietary PayConex platform features PCI-validated Point-to-Point Encryption (P2PE), the QuickSwipe mobile POS system, tokenization, transparent redirect and more.