RTX, a leading telecoms service provider, has received an initial investment of £6m Growth Capital from BOOST & Co, with further committed funding of £40m scheduled for the second half of the year.
Based in London, RTX provides innovative payment and settlement solutions to the global carrier market through the integration of its platform to the cash management software of a AAA rated bank.
Albert Mackey, RTX Chairman, said:
"This investment will enable RTX to expand into new markets and help develop our exciting new product range and services. BOOST & Co have a true understanding of our market and I am delighted to be working with them."
Miles Esfahani RTX CEO added:
"We are excited to be able to grow our business to the next stage by providing more great services and destinations to our customers. The BOOST investment will now enable us to enhance our Fast Pay product and significantly scale our development and sales capabilities."
Lance Mysyrowicz, Partner at BOOST&Co, said:
"RTX has a great range of products and services in the wholesale telecoms market. We are very happy to help them expand their product range and their destinations."
Founded in 2007, and recently placed at number 11 in the Sunday Times Tech Track top 100 of fastest growing technology companies in the UK, RTX is the definitive and most secure Global Carrier Exchange for Telecoms operators. RTX's public exchange is widely used by the global carrier community, whilst its Partner Program has been adopted by some of the largest Tier One telcos.
The RTX platform supports a growing number of pay-as-you-go and post-paid services with members' funds held securely in client accounts by major international financial institutions. The platform and secure banking ensures that members are not exposed to the financial risks that could exist in traditional one-to-one relationships and members have the additional benefit of 24/7 account visibility and real-time fund movements. RTX is revolutionising the wholesale business experience by providing the global clearing house for a variety of voice services.