HOUSTON— P97 Networks, a mobile commerce platform provider, secured $40 million in venture debt financing from an affiliate of Peak Rock Capital, a middle-market private investment firm. This new credit facility is designed to support several growth initiatives at P97.
“We will use this new capital to fund P97’s high-growth initiatives, which include accelerating user adoption on our consumer engagement platform, energy transition programs for our customers, and our services platform. mobility,” said Donald Frieden, President and CEO of P97. “Over the past 18 months, we have more than doubled the number of retail locations on our mobility services platform, which now includes four of the world’s top five energy brands, and more than 60,000 locations convenience retailer in the United States and Canada. With this new capital, we will continue to grow our install base and strategic partnerships. We look forward to working with Peak Rock to take our business to its next stage of growth and further solidify our position as the leading provider of mobile commerce technology in the convenience and fuel retail industry.
Beyond commerce, the mobility services platform serves as an engagement engine, where payments are tokenized for security and personalized for each consumer.
“We are excited about the exciting opportunities for P97 as the market for mobile payment solutions continues to grow and gain widespread consumer adoption,” said Nick Basso, Managing Director of Peak Rock Capital, based in Austin, Texas.
Houston-based P97 Networks provides a cloud-based global mobility services platform that enables connected commerce, digital marketing and consumer engagement for convenience retail, utilities, corporations energy and more.
Peak Rock Capital is a private, middle-market investment firm that makes equity and debt investments in companies in North America and Europe.
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