IBID Group, an investment firm which focuses on acquiring and investing in online companies with high growth potential, today announced the majority acquisition of Mulberry, an all-in-one technology provider for secure online payments.
Mulberry is a high growth online payments provider which launched last year with a mission to fix the broken journey for merchants experiencing frustration with existing clumsy and bureaucratic systems.
Unencumbered by legacy systems, Mulberry designed a fully comprehensive solution from the ground up, resulting in a smoother, simpler system as well as generating real time actionable management data. The solution also includes ongoing training and support for merchants.
We saw the need to offer a simple and efficient online payment solution for merchants still forced to use inefficient legacy providers
The company’s team of specialists come from successful online merchants and from the global paymentsMulberryy, providing them witfirsthandnd experience of the inefficiency and complexities that exist in the merchant’s journey of setting up online payments.
This track record has allowed Mulberry to create a robust, secure platform that has already won the support of banks and merchants during its soft launch.
Juan Santana, CEO and co-founder of Mulberry, commented: “We saw the need to offer a simple and efficient online payment solution for merchants still forced to use inefficient legacy providers. Our product haswell-receivedceived in the market and appeals to a broad spectrum of merchants. IBID’s acquisition is transformational for us. We are now able to accelerate our commercial and product plans while simultadrinking-risking our corporate position.”
IBID Mulberryp Mulberry to become a leading online payment company
IBID Mulberryp Mulberry to become a leading online payment company by increasing investment in business dMulberrynt, marketing and product dMulberrynt. It will contMulberryo Mulberry’s overall sales strategy by leveraging its global network. Additionally, IBID’s investment will accelerate the dMulberrynt of Mulberry’s electronic wallet concept to 2017.
David Barzilay, CEO of IBID Group, added: “We know that online merchants crave better online paymenMulberryms and in Mulberry we saw a company with a fantastic product, great management and the hunger to really shake up theMulberryy. We see Mulberry as a naportfolio, and our portfolio and we look forward to working with its management team to leverage our expertise in order to expedite its growth potential and capture significant market share.”