Investment & Fund Management
European Investment Fund Partner
Full Credential Description
Worldnet, based in Dublin, Ireland, is a leading B2B provider of omni-channel payment platform solutions, catering to an international clientele across Europe and North America. The company initially focused on e-commerce and payments where the cardholder is not present, but has since evolved to offer a comprehensive range of payment options, including cardholder present transactions, mobile, tablet, online, and point-of-sale solutions. This shift was driven by the need to meet the expectations of today's connected consumers for quick and frictionless payment experiences.
One of the significant challenges Worldnet faced was the need for continuous research and development to stay ahead of security threats and fraud. The company recognized that maintaining robust security and encryption measures is crucial not only for financial protection but also for preserving its reputation. Despite aggressive growth in the US market, Worldnet has maintained its R&D operations in Dublin, where it has been scaling up activities to attract top IT talent from around the world. This ongoing challenge is compounded by the competitive nature of the technology sector in Ireland.
In 2017, Worldnet received a pivotal investment from ACT Venture Capital, an EIF-backed venture capital firm, which facilitated its expansion into the US market. At that time, Worldnet did not have a business entity in the US, but the investment enabled the company to establish a presence, develop product capabilities, and fully leverage its business model, resulting in the hiring of approximately 15 new employees. Since then, Worldnet has experienced strong growth, particularly in the US, and continues to focus on enhancing its product offerings and security measures to meet the evolving demands of the payment industry.