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Venture Capital News: P97 Networks Scoops Up $40M

HOUSTON, TX, P97 Networks, the leading mobile commerce and digital marketing platform provider to the convenience retail, auto industry and fuel market, has raised $40 million in equity financing.
The round was led by Portage, a global investment platform focused on the fintech and financial services sectors, with participation from existing investors. The capital, which will come from the recently launched Portage Capital Solutions strategy, will fuel strategic growth initiatives at P97 that will further establish the company as the leader in payment and loyalty solutions for mobility-focused retailers.

P97 Networks provides a global, cloud-based mobility services platform that enables mobile commerce, digital marketing, and consumer engagement for convenience retail, utilities, energy companies, and auto OEMs. Over 65,000 convenience retail and fuels marketing sites across the globe rely on P97's connected commerce platform, including more than 240,000 EV chargers, to provide mobile payment acceptance for 137 million daily commuters.
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