Electronic Merchant Systems (EMS), a Cleveland, OH-based merchant solutions and payments provider, received a strategic majority investment from BharCap Partners, a Greenwich, CT based private investment firm focused on the financial services sector.
The investment enables the company to accelerate growth and enhance its client service offerings.
Led by Afshin Yazdian, who joined EMS as CEO and Executive Chairman in 2023, EMS offers payment processing solutions for retail and eCommerce merchants. It offers comprehensive tools, from credit card processing and risk management to gateways and virtual terminals, sales software, and web management. Operations encompass research and development, underwriting, sales, marketing, and end-to-end innovation. EMS further leverages the services of its subsidiaries, MaxxPay, Total Touch, Paysley and PaymentCloud, to drive success for clients.
EMS processes approximately $6 Billion in transaction volume for 25,000 merchants nationwide. Over 25,000 retail, internet, and omnichannel customers nationwide use the firm’s diverse suite of modern payment solutions.
With BharCap’s investment and partnership, EMS expects to become an active player in the M&A market. In January 2024, EMS further bolstered its distribution channels and significantly expanded its technology stack through the acquisition of Los Angeles, California-based PaymentCloud.
EMS was previously majority-owned by Jim Weiland, who founded the company in 1988. He will retain a minority ownership stake in EMS and will remain on the EMS Board of Directors post-transaction.
In conjunction with BharCap’s investment, BharCap Operating Partners and strategic advisors Raj Date and Karl Mehta will join the EMS Board of Directors alongside Bharath Srikrishnan, Ethan Wang, Jim Weiland and Afshin Yazdian.
FinSMEs
02/08/2024