MIAMI, FL May 18, 2004 – EMIDA Technologies (www.emida.net), a provider of electronic transactional networks for prepaid services, money transfer and stored value card processing, announced that it has closed $5 million in funding from new investors GRP Partners and Richard L. Scott Investments, LLC in a private equity round.
GRP Partners, a venture capital firm with approximately $650 million under management, specializes in retail and retail technology, outsourced business services and financial services technology. Its investments have included Costco and Overture Services (acquired by Yahoo!), among others. Richard L. Scott Investments, LLC coordinates the investment activities of Mr. Richard L. Scott, who was the founder and prior Chairman and Chief Executive Officer of Columbia/HCA Healthcare Corporation, now called HCA Inc. Existing investors in EMIDA include The Latin America Enterprise Fund, a $420 million private equity fund which focuses on Latin America.
“EMIDA’s robust technology platform and established presence in the Global Hispanic market, made this investment opportunity very compelling and a strong fit with our core focus” said Hervé Defforey, Partner at GRP Partners, who will be joining EMIDA’s board of directors. Prior to joining GRP Partners, Mr. Defforey was the Managing Director and CFO of Carrefour SA, the second largest retailer in the world and the largest in Latin America.
EMIDA’s transactional network is being deployed in 15 countries including Latin America, the U.S. and Europe. EMIDA’s combined market opportunity exceeds $300 billion in annual transaction volume.
“We are very pleased to have such a great set of investors in this round, complementing our existing strong investor base. These funds will allow us to continue growing and further enhance EMIDA’s transactional network to reach an estimated 250 million Hispanics and Latin Americans”, said David D. Brillembourg, co-founder and CEO of EMIDA.
The funds have been earmarked for the expansion of Emida’s network by entering new markets, expanding established networks to maximize the number of transactions, and introducing new products and services.
About Emida Technologies
EMIDA Technologies is deploying a growing transactional network which enables electronic prepaid service distribution, money transfer and stored value card processing targeting the Global Hispanic market. The company has contracted networks in 15 countries including the U.S., Latin America and Europe.
Emida’s model is to partner in the deployment of the network and products using its Transactional Platform. The EmidaNet, a robust transactional platform based on web service technology, has been designed to convert any point of sale system into an electronic distribution and payment center, capable of processing multiple transactions. The network is being deployed under a common global brand, “PUNTOflex”.
Founded in 1996, GRP Partners is a venture capital firm dedicated to financing solutions in outsourced business services, retail technology and financial services technology, including companies that are household names today such as Costco, Starbucks, PETsMART, Office Depot, Overture Services (acquired by Yahoo), and P.F. Chang’s.
With approximately $650 million under management, GRP Partners finances outstanding early-stage and late-stage companies that develop solutions meeting pressing customer needs. GRP’s partners have over 90 years of combined private equity investment experience.
This experience, combined with proactive investment philosophy and industry knowledge, enables the firm to work closely with its portfolio companies to build successful businesses.
GRP’s partners and investment professionals are based in Los Angeles and London.
About Richard L. Scott Investments, LLC
Richard L. Scott Investments, LLC was established in 1997 by Richard L. Scott, founder and former Chairman and CEO of Columbia/HCA Healthcare Corporation (later renamed HCA, Inc.), one of the world’s largest healthcare services companies. Since its founding in 1997, Richard L. Scott Investments, LLC has invested in companies in the following industries: transaction processing, financial services, manufacturing, cable network, recreation/leisure, mobile home & RV, network security, catalog retail, medical equipment, pharmacy retail and healthcare services. Richard L. Scott Investments, LLC makes leveraged buyout, recapitalization/restructuring and growth capital investments in companies with superior management, predictable cash flow, strong market share and growth potential.