CloudPay plans to expand its offering of financial technology services following an investment led by Olayan Group.
Conglomerate Olayan Group led a $58m funding round for UK-based payment services provider CloudPay on Wednesday.
The round was also backed by investment management firm Pinnacle Investment Partners, venture capital firm Rho Capital Partners and undisclosed additional investors.
Founded in 1996, CloudPay provides a range of payroll management and payment services for businesses through an online unified platform. It claims its offering is used by more than 1,500 multinational companies.
Paul Bartlett, CEO of CloudPay, said: “This funding will be…
