Online payment processor SafeCharge will proceed with an initial public offering (IPO) in London early next month as the company looks to raise US$100m in new equity capital to drive revenue growth and accelerate its acquisition strategy in the Asia Pacific and Americas regions.
Majority owned by Playtech founder Teddy Sagi, SafeCharge is a leading supplier to European sports betting and gaming operators and also serves merchants in retail securities derivatives and foreign exchange trading sectors, among others. Notable clients include Gala Coral, Rank Interactive, William Hill and FX Pro.
The company said that its admission to London’s AIM market, and the funds raised pursuant to the placing, are an important step in the group's development and expansion.
SafeCharge CEO David Avgi said: “The rapid global growth in online sales is creating new opportunities for businesses to maximise sales of products and services. But with these opportunities come challenges to existing payments infrastructures."