RTX, a London, UK-based telecoms service provider, received an £6M initial growth investment.
Boost&Co provided the funding with further committed funding of £40M scheduled for the second half of the year.
The company intends to use the funds to expand into new markets and develop new product range and services.
Founded in 2007 and led by Albert Mackey, Chairman, and Miles Esfahani, CEO, RTX provides innovative payment and settlement solutions to the global carrier market through the integration of its platform to the cash management software of a high street bank.
The RTX platform supports a number of pay-as-you-go and post-paid services with members’ funds held securely in client accounts by major international financial institutions. The platform and secure banking ensures that members are not exposed to the financial risks and members have the additional benefit of 24/7 account visibility and real-time fund movements.
RTX’s public exchange is used by the global carrier community whilst its Partner Program has been adopted by some of the largest tier one Telcos.