Red Door Capital Partners Initiates First Transaction
Private equity investor Red Door Capital Partners has announced its first transaction with PAY2DAY Solutions Inc. dba Authvia. Under the terms of the agreement, Red Door Capital Partners will provide a bridge loan and permanent financing of up to USD $7mn to fund Authvia's current growth plan.
"Fintech has proven to be a stable alternative investment market and Authvia solves a real problem in today's business environment," said Richard Wolpow, managing partner at Red Door Capital Partners. "Though adoption of Authvia's contactless conversational commerce platform was already on the rise, the Covid-19 pandemic has increased demand for the solution."
Wolpow also noted Authvia's partners include the 'who's who' of top global payment companies and software providers. "Our commitment will help support the exciting demand for message-based payment solutions leveraging Authvia's API's," he added.
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