Softgate Systems Receives US$7.5M in Debt Financing
Softgate Systems, Inc., a Fairfield, New Jersey-based provider of an open electronic exchange connecting product and service providers to a distribution network that serves the cash-preferred market place, has received a US$7.5m venture debt financing from Wellington Financial LP.
Through its Retail Payments Exchange platform, Softgate offers a diverse range of products including bill payment, domestic and international prepaid wireless, prepaid long distance, gift cards, and international bill payment
Established in 1993 and led by President and CEO Rick Auletta, the company is backed by Edison Ventures, Citi Capital Advisors, and Hamilton Investment Partners.
The financing provides Softgate with working capital to support its continued growth.