ATLANTA & NEW YORK, April 1 — TRX Services, Inc. (TRX), a leading provider of payment processing solutions, announced it has received an equity investment from Stella Point Capital (SPC). The transaction closed earlier in March and financial terms were not disclosed.
This partnership and investment will enable TRX to meaningfully invest in its strengths of technology-led payment processing, superior underwriting and risk management capabilities and world-class customer service.
TRX processes more than $4.5 billion in transaction volume across credit card, debit card, ACH and online payment transactions, in addition to accounts receivable and payable management and identity and fraud solutions, providing support for merchants across the United States and Canada. Headquartered in Atlanta, GA, TRX employs more than 45 people.
“I am incredibly energized by this significant milestone in TRX’s journey. As a founder-owned company, TRX has accomplished many objectives in its history. With the addition of our new partners and their longstanding experience in the merchant acquiring space, I am excited about TRX’s ability to accelerate our strategic growth plans over the coming years,” said Scott Martin, Chief Executive Officer of TRX.
“We are extremely excited to partner with TRX at this inflection point in its growth,” said Robert Jahn, Partner at SPC. Adam Godfrey and Justin Wender, Managing Partners, added, “TRX’s culture of technology innovation and ability to solve unique payment challenges for its customers are the backbone of the company’s differentiated position and growth. We look forward to working with TRX Founder Craig Davis, Scott Martin and the rest of the team for years to come.”
The investment will advance TRX’s strategic growth plan, including the continued expansion of its integrated software vendor (ISV) strategy. Launched several years ago, this effort will continue to enable partnerships with technology providers and software vendors across many different verticals in the merchant services industry.
Founder, Craig Davis, and CEO, Scott Martin, along with the current leadership team, will continue to lead the company as it expands its footprint, broadens the product suite and executes against the company’s strategic vision. TRX serves nearly 4,000 merchants across multiple end-markets, including insurance, professional services, restaurants, travel and dealerships.
MAPP Advisors, a fintech advisory firm, advised TRX Services on this transaction.
