# SPG technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/spg-technologies

- Industry: Financial Services
- Headquarters: Cheshire, UK
- Website: www.spg.co.uk
- Total disclosed funding: $34M
- Latest round: Series A (Dec 7, 2021)
- Investors on record: 5

## About

Based in London, UK, and founded in 2016 by CEO Peter Janes, SPG technologies Ltd operates as a provider of digital payment and escrow solutions. Assets include Shieldpay and Paycast. In December 2021, SPG technologies Ltd raised USD 34 million in Series A funding co-led by new investors Marqeta and Mastercard, with participation from other new investors CreditEase, Elliott Management, and Techstars.

The products developed by the company are Shieldpay and Paycast. Shieldpay provides digital payment platform solutions across the legal, financial and professional services industries. Shieldpay also helps to manage customer due diligence, payments, and transaction through the digital platform. Paycast is a secure disbursement engine that works alongside payment service providers to pay out to the platform's users and sellers. It offers features to onboard users, hold funds in escrow, and make payouts.

SPG has processed over $3 billion dollars of payments for its clients and experienced a growth in business during the pandemic that saw revenues grow by over 360% in the last year. 

The company plans to use the funds raised in Series A to scale up Shieldpay and capitalize on growing demand in the professional services market. They also plan to use the funds to fuel Paycast in its early stage of growth and bring the payments platform to a consumer audience.

## Funding rounds

- Series A, Dec 7, 2021, $34M — Elliott Management, MasterCard Investment, Techstars, Marqeta, Inc., CreditEase Corp.

## Investors

- Elliott Management (https://capitalatlas.ai/funds/elliott-management) — Series A
- MasterCard Investment — Series A
- Techstars (https://capitalatlas.ai/funds/techstars) — Series A
- Marqeta, Inc. — Series A
- CreditEase Corp. — Series A