Payment Club, Inc. this morning announced the
completion of a $7 million financing led by its co-founders in partnership
with Unified
Payments, a subsidiary of Net Element (NASDAQ: NETE) and its institutional
investor. Payment Club’s co-founders lead the financing with $2 million in
equity. Unified Payments, through its partnership with its institutional investor,
arranged a $5 million credit facility for Payment Club to drive its growth
initiatives, bringing total debt and equity financing to $7 million. Payment
Club intends to utilize the funding by expanding nationwide, hiring up to 100
membership advisors, and creating show rooms where business owners can gain
information on the different memberships the company plans to offer and
experience the various products. “Payment Club is an exceptional company that
is revolutionizing the way merchants pay for accepting cashless transactions,
and we look forward to a long term partnership with the Payment Club team as
they grow the business,” Vlad Sadovskiy, president of integrated payments for
Net Element stated in the news release.
To view the full press release, visit http://ibn.fm/Xjsyb
About Payment Club
Payment Club is a subscription-based payments provider
offering variety of membership plans for value added services, POS and flat fee
payment acceptance with transparent, zero markup pricing. For more information
about Payment Club visit www.PaymentClub.com.
About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a
payments-as-a-service transactional and value-added services platform for small
to medium enterprise (“SME”) in the U.S. and selected emerging markets. In the
U.S., it aims to grow transactional revenue by innovating SME productivity
services using blockchain technology solutions and Aptito, the company’s cloud
based, restaurant and retail point-of-sale solution. Internationally, Net
Element’s strategy is to leverage its omni-channel platform to deliver flexible
offerings to emerging markets with diverse banking, regulatory and demographic
conditions. Net Element was ranked as one of the fastest growing companies in
North America on Deloitte’s 2017 Technology Fast 500™. In 2017, Net Element was
recognized by South Florida Business Journal’s as one of 2016’s fastest growing
technology companies. Further information is available at www.NetElement.com
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