Founded by chief executive Alexander MacAngus, 58, and chief commercial officer Richard Smith, 43, in 2010, Payen spent four years on development before releasing its payment processing platform for online retailers. The Guildford-based business also helps clients increase their credit card acceptance rates worldwide, reducing “basket abandonment”. It operates in 12 currencies, with the majority of revenue coming from international markets. Sales, which consist of processing fees, were £14.2m this year. The company is backed by Magenta Partners, which invested £10m in 2017.
This profile reflects the company at time of publication and does not reflect any changes that may have subsequently occurred. Fast Track and its sponsors do not endorse, guarantee or recommend investment in any of the companies.