SAN FRANCISCO, Calif. — Pay By Touch Solutions announced in a news release that it has secured $130 million in new financing, including $75 million raised in senior secured notes with major investments from New York-based hedge fund Och-Ziff Capital Management, which led the financing, and San Francisco-based Farallon Capital Management. Other participants included Plainfield Asset Management. UBS Securities acted as placement agent for Pay By Touch Solutions.
The additional $55 million was raised in a convertible promissory notes offering with major investments from three of the Getty Trusts, Ron Burkle — founder and managing partner of The Yucaipa Companies, and Rembrandt Ventures, among others. The senior secured notes and the convertible promissory notes together have provided the company with a total of $130 million in new financing to support its continued growth as the leader in biometric authentication, payment, loyalty and membership solutions.
Pay By Touch Solutions recently completed the largest chain-wide biometric payments rollout of its key product offering to date, by implementing Pay By Touch in all Piggly Wiggly Carolinas Company stores.
