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14 August 2015

Charles Russell Speechlys advises on investment in Ethoca

Charles Russell Speechlys has advised an international group of high net worth individuals on their co-investment, alongside Spectrum Equity, in Ethoca’s $45m funding round.

Founded in 2005, Ethoca is the leading global provider of collaboration-based technology that enables card issuers, e-commerce merchants and online businesses to increase card acceptance, stop more fraud, recover lost revenue and eliminate chargebacks.

The investment will assist Ethoca in accelerating the next phase of its global expansion and the delivery of new collaboration-based services to meet growing customer demand.

The Charles Russell Speechlys team advising on the investment was led by Partner and head of Private Equity Malcolm MacDougall and Private Equity Senior Associate Richard Coleman.

Larry Klane, co-founding principal at Pivot Investment Partners, who will represent the investor group on the board of Ethoca, commented: “My investor group deeply appreciated the extraordinary work of Richard and Malcolm on a transaction which touched two continents and multiple jurisdictions.

“They dealt effectively with a complex set of issues and participants, bringing thoughtful and practical solutions in an incredibly timely manner. Without their support, the deal would not have been consummated”.

Richard Coleman said: “We were pleased to be able utilise our experience of advising private equity sponsors, investee companies and private investor groups to facilitate this investment.

“We wish the Ethoca team every success in continuing to grow and develop the business”.