December 19, 2012
Chicago Growth Partners (“CGP”) is pleased to announce its partnership with Trident Capital to acquire a controlling interest in 2Checkout, an online payment processor for more than ten thousand ecommerce global businesses. The investment, in combination with the experience and track record in the payment space that CGP and Trident Capital bring to 2Checkout, position the already successful online payments business for aggressive growth in the coming years.
“We are thrilled to have both Chicago Growth Partners and Trident Capital as partners” said Tom Dailey, 2Checkout CEO. “We appreciate their confidence in the 2Checkout management team and our vision for the future of online payments. Both partners have tremendous industry, operational and marketing expertise that will help us better serve our customers and continue to grow the business globally.”
By handling not just payments, but also risk management, currency and language complexities, 2Checkout makes it easy for online Sellers to sell their goods and services to buyers all over the world. By providing a dynamic checkout experience that automatically adjusts to the buyer’s device – PC, tablet or mobile – and allowing for a customized, branded experience, 2Checkout helps Sellers sell more by creating a seamless, intuitive and comfortable online buying experience.
Devin Mathews, Chicago Growth Partners Managing Partner, added, “We are excited about the product offerings and growth opportunities at 2Checkout. We see great potential to leverage CGP’s core strengths to work with 2CO’s strong management team to enhance its technology and create a more scalable organization.”
“The online and mobile payments industry is rapidly evolving and we look forward to helping 2Checkout capitalize on this significant market opportunity,” said Senior Managing Director and Trident Co-Founder, Don Dixon. “By combining Trident’s deep knowledge of payments and technology with 2Checkout’s robust payment processing platform, we’re extremely confident in bringing to market a highly differentiated online payments solution for businesses.”
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