Passport Technology Receives Strategic Growth Investment from Peak Rock Capital Subsidiary

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Passport Technology Receives Strategic Growth Investment from Peak Rock Capital Subsidiary

Passport Technology Receives Strategic Growth Investment from Peak Rock Capital Subsidiary

LAS VEGAS, June 23, 2022 (GLOBE NEWSWIRE) — Passport Technology (“Passport”), a leading developer of technology solutions and services for the highly regulated payments, gaming and financial services markets, announced today today have received a strategic growth investment from an affiliate of Peak Rock Capital (“Peak Rock”), a leading middle-market private investment firm. This investment provides Passport with significant resources to expand its customer base, develop new technology-based products and services, and pursue additional strategic partnerships.

Cleve Tzung, CEO of Passport, said, “Peak Rock’s investment will support our rapid growth, reinforce our focus on innovation and accelerate our proven customer acquisition strategy. Since 2019, we have more than doubled our installed base and expanded our service offerings for new and existing customers. Today, Passport is installed in more than 222 locations in six countries, and we hope Peak Rock’s additional support will take us to new heights and help us achieve our growth ambitions.

“Passport has a strong pipeline of new opportunities with new and existing customers around the world,” said Scott Dowty, Founder and Executive Chairman of Passport. “With this new capital and the collaboration with Peak Rock, we will take our business to its next stage of growth and further establish our position as a leading innovator and provider of cash access, compliance and loyalty technology solutions for customers. gaming partners, while expanding our platform into other end markets.”

“Passport’s portfolio of technology products and solutions is trusted by many major payment and gaming players, and has enabled the company to achieve exceptional growth since its inception,” said Nick Basso, Chief Executive Officer of Passport. Peak Rock Capital. “This transaction exemplifies our ongoing focus on providing both capital and a strategic partnership to innovative, growth-oriented companies.”

About Passport Technology, Inc.

Passport’s pursuit of excellence is driven by diversity, inclusion and collaboration as we strive to create opportunities for all stakeholders to thrive. Passport is a leading developer of technology solutions and services for the highly regulated payments, gaming and financial services markets. The Company’s product portfolio includes exchange kiosks, near-cash, check guarantees, ATMs, digital payments, cash and cashless integrations, casino automation, compliance solutions regulatory, bank-sponsored transaction processing, server-based and web-based analytics, agnostic application management systems, and interactive content and loyalty services. Through its preferred gaming licenses and payment sponsorships, Passport has securely and responsibly settled more than $45 billion in funds in casinos around the world. For more information on Passport Technology, please visit www.passporttechnology.com.

About Peak Rock Capital

Peak Rock Capital is a leading middle-market private investment firm that makes equity and debt investments in companies in North America and Europe. Peak Rock’s equity investment platform focuses on opportunities where it can help senior management drive rapid growth and improved performance, with expertise in corporate carve-outs and partnering with families and founders seeking institutional capital for the first time. Peak Rock’s credit platform invests across all capital structures, with a broad mandate to provide flexible, customized capital solutions to middle-market and growth-oriented companies. Peak Rock’s real estate platform makes equity and debt investments in small to mid-sized real estate assets in attractive and growing geographies. For more information on Peak Rock Capital, please visit www.peakrockcapital.com.

press contact
Max Aceituno
SVP, Marketing
Passport Technology Inc.
[email protected]

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Passport Technology Receives Strategic Growth Investment from Peak Rock Capital Subsidiary

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