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P97 Secures $40 Million of Venture Debt Financing from an Affiliate of Peak Rock Capital

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HOUSTON, Jan. 06, 2022 (GLOBE NEWSWIRE) — P97 Networks, a leading provider of a mobile commerce platform for the convenience retail, fuel marketing and automotive industries, announced today that it has secured $40 million in project debt financing from one of its affiliates, Peak Rock Capital, Inc. A leading private investment in the middle market. This new credit facility is designed to support several of P97’s key growth initiatives.

“We will use this new capital to fund P97’s high growth initiatives, which include accelerating user adoption across our consumer engagement platform, our customers’ energy transition programs, and our mobility services platform,” said Donald Frieden, P97 President and CEO. . “Over the past 18 months, we have more than doubled the number of retail locations on our mobility services platform, which now includes four of the world’s five largest energy brands, and more than 60,000 retail locations in the United States and Canada. With these In the new capital, we will continue to grow our installation base and strategic partnerships. We look forward to working with Peak Rock to take our company into its next phase of growth and strengthen our position as a leading provider of mobile commerce technology in the convenience and fuel retail industry.”

P97’s Mobility Services platform has been developed to support the connected economy and address the challenges of a changing mobility landscape through the seamless operation of a wide range of interoperable ecosystems with payments as a core competency. Beyond commerce, the platform acts as an engine for interaction, where payments are coded with security and then designed for experiences that meet consumers’ needs in unique and personalized ways.

“P97 has become the industry standard in the retail and fuel marketing industry, and we are very excited to help the company reach the next level in scale and growth,” said Nick Basu, Managing Director of Peak Rock Capital. “We are excited about the exciting opportunities ahead for P97 as the market for mobile payment solutions continues to expand and gain widespread adoption by consumers.”

About P97 Networks

P97 Networks provides a global cloud-based mobility platform that enables connected commerce, digital marketing, and consumer engagement for retail, utilities, energy companies, and automotive OEMs to align strategies, so they can attract, engage, and retain customers by connecting millions of consumers and securely connected cars. Using the P97 identity, geo-location-based services, secure payments, and a loyalty aggregation platform to create new and unique experiences for consumers via mobile devices. For more information, visit www.p97.com.

About Peak Rock Capital

Peak Rock Capital is a leading mid-market private investment firm that makes equity and debt investments in companies in North America and Europe. Peak Rock’s equity investment platform focuses on opportunities where it can support senior management to drive rapid growth and improve performance, with expertise in corporate takeovers and partnering with families and first-time founders seeking institutional capital. Peak Rock Trust platform invests across capital structures, with a broad mandate to provide flexible, tailored capital solutions to mid-market, growth-oriented companies. Peak Rock Real Estate platform makes equity and debt investments in small to mid-size real estate assets in attractive and growing geographies. For more information on Peak Rock Capital, please visit www.peakrockcapital.com.

Call:
Aaron Meirelles
P97 Networks, Inc.
281-954-1706
Aaron.Mireles@p97.com

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