Global payment giant PayPoint has announced a £1m investment in Chester credit specialist AperiData.
PayPoint says the deal will build on its existing commercial relationship with AperiData offering “Open Banking” services to clients including local authorities, charities and housing associations.
The deal will also see Maven Capital Partners realise its investment in Aperidata, which works in the Open Banking sector that finds secure ways to allow financial data to be shared between banks and other service providers.
AperiData has supported PayPoint’s recent work with Citizen’s Advice Stevenage. Their customer support rolls means debt advisers can find and review financial information for people seeking help in minutes rather than weeks.
Nick Wiles, CEO of PayPoint, said: “We’re delighted to be investing in Aperidata, which will further enhance our Open Banking solutions and multichannel payments platform for clients in multiple sectors. This investment will enable PayPoint to continue its diversification to digital and enable further growth in Open Banking, which is one of our key building blocks to delivering £100m EBITDA by the end of FY26.”
Steve Ashworth, CEO of Aperidata said: “PayPoint was a natural partner for us as we expand our Open Banking solutions and enable the next phase of growth. The UK credit score model is over 50 years old with little innovation over the years. Aperidata is solving tangible problems in 2024 with a digital-first solution that gives any user a real time P&L on consumers and businesses. Any time, any place – you’ll know the financial position in real-time. We are super excited to be working with the PayPoint teams and look forward to driving further success into the market.”
NPIF – Maven Equity Finance, which is managed by Maven as part of the first Northern Powerhouse Investment Fund, made an early-stage investment in AperiData.
Tom Parton, investment manager at Maven, said, “We are happy to see AperiData partner with PayPoint. Today’s transaction is a major step for the company and for Steve and Andy, who worked hard to launch AperiData. We wish them and the PayPoint team, market leaders in multichannel payments, all the best. At Maven, we focus on adding value to companies with clear and credible strategies for growth. This exit is another example of our ability to identify high-potential businesses from the earliest of stages.”
Debbie Sorby, senior manager at British Business Bank, said: “AperiData’s journey from its pre-revenue stage to its partnership with PayPoint Plc showcases how investment from the first Northern Powerhouse Investment Fund can be the catalyst to accelerate businesses in their growth journey. AperiData is a prime example of how strategic investment can enable a company to scale in new markets. The success of the business will have a wide-reaching impact, revolutionising the credit reporting and open banking sectors, whilst driving economic growth across the North.”
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