Qgiv acquired by Waud Capital
Deal Synopsis
The company was acquired by Sphere Payments, a subsidiary of TrustCommerce, via its financial sponsor Waud Capital Partners, through an LBO on April 3, 2019 for an undisclosed sum.
Seller Details
Qgive is a developer of an online platform intended to raise online donations. The company's platform helps in fundraising for peer-to-peer, nonprofit organizations, faith-based organizations, and political activities as well as providing customized reports and personal receipts. It works in compliance with the PCI, enabling users to get funding for their cause as early as possible.
Buyer Details
Sphere Payments is a provider of secure payment processing with a focus on security, data protection, and risk mitigation. The company's secure payment processing platform features point-to-point encryption, tokenization and exceptional system reliability, enabling it to assist partners and clients with reducing the cost and complexity of PCI DSS compliance.
Waud Capital Partners is a private equity firm based in Chicago, Illinois. The firm prefers to invest in the healthcare services, technology and business services sectors.