BlueRock assisted Payment Logic in a successful capital raise to fuel their global growth plans. Find out more about this innovative business and how BlueRock helped them on their business adventure.
What is Payment Logic?
Payment Logic, led by CEO Sam Plowman, has created a highly secure and efficient platform that allows businesses and individuals to utilise their American Express cards or debt to process any type of payment, while also earning reward points effortlessly and securely.
With Payment Logic's innovative approach, payment processes are improved, creating a new marketplace for business owners to save time, optimise cash flow and reduce payment fraud and error, all while also accumulating rewards in the daily running of their business.
The Challenge
With plans to expand its operations, Payment Logic sought to expand their platform and build new products. To materialise this strategy, the company recognised the importance of raising capital to fuel its growth. Seeking expert guidance, Payment Logic engaged BlueRock to assist them in securing the necessary investment.
Payment Logic's primary objectives were twofold: to grow its business locally and to establish an advisory team that could offer valuable insights for their strategic direction and governance. Regular meetings revealed a critical concern faced by many small and medium-sized enterprises (SMEs), the need to devise effective ways to reward their high-performing teams. BlueRock is familiar with this challenge working closely with many SME businesses, and the need to ensure that they are providing an incentive system to motivate and retain talented employees.
The Solution
BlueRock’s advice played a pivotal role in guiding Payment Logic through a successful capital raise before the pandemic, providing the company with sufficient funds to see them through this period. The capital infusion proved instrumental in diversifying their revenue streams and laying the foundation for future growth.
Building upon this initial success, we recently collaborated on a second capital raise, demonstrating our commitment to supporting Payment Logic's ambitions for local expansion and potential international growth. Throughout our partnership, we have maintained a close relationship, regularly participating in bi-monthly advisory meetings as external advisors to the board. During these sessions, our focus has encompassed crucial aspects such as financial performance, people and culture, brand, sales and marketing, operations, and the overarching growth strategy.
Early in our engagement, we identified the importance of safeguarding Payment Logic's intellectual property and provided valuable assistance in restructuring the business accordingly. Moreover, recognising the significance of attracting and retaining top talent, we worked closely with Payment Logic to develop an employee stock ownership plan. This plan has proven to be an effective means of not only rewarding their high-performing team but also serving as a powerful incentive for continued excellence.
The Outcome
Despite the challenges brought by the pandemic, Payment Logic has grown by 50% cumulatively post-COVID-19, processing over $2 billion in payments across all its products. They’re now in a position to go for a second capital raise to push the business forward and pursue global growth.
The partnership between BlueRock and Payment Logic has exemplified the impact of strategic advisory support in fostering sustained growth and success. By leveraging our expertise, Payment Logic has thrived in the face of challenges, ensuring its continued expansion and prominence in the competitive payment processing landscape.
