Softgate Systems operates a Retail Payments Exchange platform that connects product and service providers to a distribution network serving the cash-preferred market. The platform offers bill payment, domestic and international prepaid wireless, prepaid long distance, gift cards, and international bill payment. The company is led by President and CEO Rick Auletta and was established in 1993. Softgate is based in Fairfield, New Jersey. It is backed by Edison Ventures, Citi Capital Advisors, and Hamilton Investment Partners. The company received a financing intended to provide working capital to support its continued growth. IPP of America provides electronic payment services through a national network of independent neighborhood-based payment centers. Its network includes convenience stores, national grocery chains, wireless retailers and financial services centers. The company serves cash-paying customers who need electronic payment options. IPP raised $2.3M in funding to support its operations. The round was led by existing partner Edison Venture Fund, which committed $1.2M, and included participation from prior investors. Proceeds are earmarked to expand marketing, sales, products and working capital.

Total raised

$10M

Funding rounds

2

Latest round

Debt Financing

Latest activity

May 2012