September 28, 2017 (Irving, TX) Anovia Payments, a leading full service payments solution provider out of fin-tech hub Dallas-Fort Worth announces a strategic partnership with Waud Captial, a top growth-oriented private equity firm based in Chicago. The partnership will provide Anovia with additional capital accelerating the growth of the company further to extend its product verticals, expand its relationships with strategic partners, and provide additional technology solutions to customers.
This comes out of a recent partnership between Waud Capital and Andrew Rueff, a seasoned financial technology executive with more than 20 years of payments technology experience. Together, they formed Sphere Payments LLC to identify attractive investments in the payments space. With Rueff as the Executive Chairman of Sphere Payments, they strategically recently acquired TrustCommerce, a payment software provider with a focus on security, data protection, and risk mitigation solutions. In a synergetic move, Anovia will now become a sister company to Sphere Payments that will be integrating payments to the TrustCommerce platform.
“This exciting partnership with Waud will open doors to new software and technology while also expanding and diversifying our strategic partners to ultimately drive value back to customers,” said Kevin Jones, President and CEO of Anovia Payments. “We are pleased to introduce payments to the TrustCommerce customers and in return offer additional security products to current Anovia customers. Waud and TrustCommerce are a great fit strategically for our future growth and from a company culture perspective.”
Founded in 2013 by payments industry veteran Kevin Jones, Anovia Payments has achieved more than 4,500 percent growth in the past three years with operations in the US, Canada, and Australia. The company’s meteoric rise recently placed it at number 82 in Inc. magazine’s Inc. 5000 annual list of growth companies and number five among financial service companies. Jones, other key executives, and the staff of Anovia will maintain their roles within the company.
“With their unique, customizable model for referral and integration partners offering a simple merchant acquiring process and allowing for maximum payment monetization, Anovia is the perfect fit for this strategic partnership and to be the core for a future suite of innovative payment technology solutions,” said Rueff, the new Executive Chairman for both Sphere Payments and Anovia Payments. “The combination of TrustCommerce and Anovia creates a very attractive integrated payments product. Anovia is now well positioned as a technology-focused organization to accelerate their business while adding new technology in the healthcare space and other key verticals.”
About Anovia Payments
A new, innovative way forward in payment acceptance, Anovia Payments was founded in 2013 by industry experts determined to make card acceptance reliable, simple, secure, and supported by best in class programs and technology, powered by partnerships, ideas, and work ethic. Anovia’s founding principles are customer-centered: to help client companies expand their businesses, their customer loyalty, and their financial success. Anovia is moving the payments industry forward while exhibiting high ethical standards and successfully meeting industry challenges with demonstrated results. For more information, please visit www.anoviapayments.com
Anovia Payments is the winner of the 2016 ISO of the Year Award from the membership of the Electronic Transactions Association (ETA), the payments industry’s global trade organization. A true innovator in electronic payment platforms, the company also earned the 2014 Rising Star Award from the ETA membership. Anovia ranked 82nd in Inc. magazine’s Inc. 5000 for 2016, the magazine’s annual ranking of the fastest-growing companies in America.
About Waud Capital Partners
Based in Chicago, Waud Capital Partners is a leading growth-oriented private equity firm with total capital commitments of approximately $2.1 billion since its founding in 1993. Waud Capital partners with exceptional management teams to build market leading companies within two industries: healthcare services and business and technology services. Since its founding, Waud Capital has successfully completed more than 210 investments, including platform companies and follow-on opportunities. For additional information on Waud Capital, visit www.waudcapital.com.