Wave Crest Holdings Limited, a Gibraltar-based e-payments solutions provider, has raised $8.5m in Series B funding.
The round was led by GRP Partners, with participation from Park Ventures LLC.
In conjunction with the funding, Brian McLoughlin, general partner at GRP Partners, and Larry Park, an Operating Executive with Genstar Capital, joined the board of Wave Crest.
Founded in 2008 by technology and pre-paid executives, the company is developing a platform providing integrated payment solutions that include applications for open and closed-loop prepaid cards and e-wallets, loyalty and promotional programs, and the ability to execute programs globally across the Americas, and Asia from a single platform.
President and Co-Founder of Wave Crest is Gary Palmer, the co-founder od WildCard Systems in 1997, which was acquired by eFunds in 2005 for $262m.
The company has fully owned subsidiaries in the U.S. and Isle of Man.