The company said its existing management team led by CEO Jim McKenzie will continue to run the business.
Network Merchants distributes its products via a network of more than 400 affiliate partners that serve more than 60,000 merchants worldwide.
The company’s products include fraud monitoring, payment routing, and mobile functionality, all of which are offered on a modular basis.
Bregal Sagemount managing partner Gene Yoon said, “We’re very pleased to be investing in NMI alongside management.
“Network Merchants has developed a compelling set of products which have seen fantastic traction in the market over the past several years. The company is well positioned to capture opportunities around the growth in e-commerce and mobile commerce, as well as the growing adoption of integrated payments solutions.
Earlier in September the New York-based firm led a $21.5m financing round for healthcare software developer ZeOmega.
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