Pacific Processing funds $10M capital fund to acquire ATM deployers
Summary
Independent ATM Deployers can also sell a small piece of their company through a Micro Partnership to Pacific Processing and use that cash back into their cash-loading inventory, according to a press release. "When I first started my ATM business in 2008 — with just a $5,000 loan — I continuously plateaued through different partner investors. I often outgrew their capital capacities faster than anticipated," Gianni Del Vecchio, CEO and founder of Pacific Processing. I built this fund to alleviate the cash-intensive hamster wheel pressure felt by IADs that often prevents them from having a higher quality of life and the ability to grow to their maximum potential. In particular, Vecchio said these services are built to help ATM operators scale and "have more control over their growth."