“We searched for a long time to find an investor that could not only add value, but who appreciated the entrepreneurial nature of our business. The fact that the Magenta team have founded and managed high growth businesses previously, and have positioned their fund directly at supporting founders and managers, was a critical reason why we chose to partner with them.”
Sandy MacAngus, co-Founder & CEO Payen
Date Invested: August 2017
Sector: Financial Services
Founded in 2010 by Sandy MacAngus and Richard Smith, Payen is a specialist digital PSP, providing secure consumer payment processing for medium and large companies across mobile and internet based channels. Combining its proprietary technology platform (PCI DSS accredited) and eMoney Institution status, Payen provides a highly differentiated service offering to online merchants, targeting key areas such as funnel conversion, payment acceptance rates, fraud and charge back rates, and regulatory requirements. Via its pinPay and Bank.It solutions, Payen is already processing payments in over 50 countries globally across mainstream and alternative payment methods.
Magenta were introduced to Payen in late May 2017 and, having identified Payen as an exciting opportunity led by an outstanding management team, worked hard to complete a transaction within a very short timeframe over the summer with minimal disruption to their fast-growing business. Payen was rebranded from Trustpay Global in May 2019.