SPG

Shieldpay caters to the professional and financial services sectors, offering a digital platform that simplifies complex payments. This service automates transactions, replacing paper-based methods and assisting with regulatory reporting. Its client base includes a range of organizations from large law firms and sole practitioners to lenders and technology companies, who use the platform for M&A, real estate transactions, and class action lawsuits.

Paycast, the group's newer offering, is a payment engine designed for marketplaces, e-commerce, and other platforms. It specializes in protecting high-value and time-sensitive transactions by holding funds in escrow until the terms of a sale are met. A strategic partnership with Mastercard is intended to create a secure ecosystem for buyers and sellers on these platforms.

The company has demonstrated significant growth, having processed over $3 billion in payments and reporting a revenue increase of over 360% during the pandemic. In December 2021, SPG secured $34 million in a Series A funding round with strategic investments from major players like Mastercard and Marqeta, alongside Elliott Management, CreditEase, and Techstars. This capital is earmarked for scaling Shieldpay's presence in the professional services market and fueling the early-stage growth of Paycast, with an eye toward a broader consumer audience.