Tempe, Arizona - June 25, 2019 (Newswire.com) - Aurora Payments announced today that a transaction was finalized to provide $4MM in growth capital to CPU, LLC. The investment provided by Aurora Payments will assist CPU, LLC. (CPU) – a Salt Lake City-based payment processing company – to scale its proven business model across new industry verticals.
Led by Regional Vice President and CFO Jeff Holdmair, CPU is an industry leader with multiple software relationships in many vertical markets, including the pet care and ski lodging industries. With a leadership team that boasts over 20 years of combined industry experience, CPU has built an organization that brings white-glove support and payment acceptance services to a growing list of over one thousand clients. “At first, CPU provided exclusive integrated credit card solutions for Kennel Connection, a best-in-class point of sale software in the pet care industry,” said Jeff Holdmair. “Our leadership team then decided to expand the company out to other software integrations due to our success with Kennel Connection. Our partnership with Aurora Payments opens up many new opportunities and allows us to tap into Aurora’s robust suite of financial products and industry connections.”
While CPU has focused primarily on providing its services to the pet care and ski lodging industries, CPU will use the funds provided by the transaction to expand its integrated payments and technology services to more industry verticals. “As Aurora Payments continues to broaden its distribution through integrated partners, doing business with CPU and Jeff Hodlmair’s team was a no brainer,” said Brian Goudie, CEO of Aurora Payments. “Jeff has been a terrific partner of Aurora for years, so taking the next step was a logical evolution of that relationship.”
About Aurora Payments
Aurora Payments is a Financial Service Provider (FSP) with First Data & TSYS and is sponsored by BBVA and Wells Fargo. Goldman Sachs Specialty Lending Group, L.P. has been a lender to Aurora since 2015 and Prudential Capital, Aurora Payments is perfectly positioned to fund payment professionals and Independent Sales Offices (ISOs) that are looking for growth capital, residual lending, and joint-venture partnerships. The company has deployed over $40M in growth capital to their partners within the last two years and continues to seek investment and acquisition opportunities for companies in the payments and financial industries.