G-T-P provides the trade and business services sectors with payment card services. The company supplies white-labelled trade cards to B2B distribution businesses and service providers such as builders’ merchants, electrical distributors and retail chains.
Alongside branded payment cards, G-T-P also offers customers a range of services including account administration, online credit authorisation, transaction processing, payment collection, B2B telemarketing and loyalty schemes. G-T-P’s solution enables customers to optimise working capital, improve cash flow and sales, reduce bad debts and internal overheads, whilst also enhancing customer loyalty.
The company has a strong existing client base that includes York International, Floors-2-Go and Brandon Tool Hire. Brandon recently won the European Hire Award for Innovation for their G-T-P trade card scheme.
The new funding will allow the company to build on its current success by strengthening its sales, marketing and support operation in preparation for partnering the likes of York International in a pan-European roll out of its trade card services. The company has an exciting pipeline with six major multinational customers due to commence their payment card schemes in Q1 2007.
The company also intends to use the funding to capitalise on several exciting opportunities in the gift card, voucher card, prepaid card and insurance replacement card sectors.
Mark Boggett from Seraphim Capital led the deal stated “This investment will enable G-T-P to expand rapidly taking advantage of their first mover status in order to build a world class platform within their target market.”
Helen Child, G-T-P’s CEO stated “We are delighted to have the opportunity to work alongside Seraphim. Beyond their financial investment it is the mentoring brought by their lead investor – David Kendall – that really excites us. His experience as chairman of many public companies in a wide range of industries will be invaluable.”
Nick Aylwin from Katalyst, the Company’s broker, stated “G-T-P is a highly attractive business in a burgeoning new growth area of the economy. The company is on track to achieve very fast expansion.”