Planet Payment (LON:PPT, OTCQX:PLPM) said that Inter-Atlantic Fund LP upped its stake by 1.8 million shares to 3.15 million shares for 6 percent of the voting rights.
The shares were issued pursuant to the repayment of debt announced earlier this month, when Planet Payment cleared a US$4 million long term debt with Inter-Atlantic.
The company also said that it granted an option exercisable into 100,000 shares to its chief financial officer Robert Cox pursuant to its 2006 equity incentive plan.
The exercise price of US$1.25 per share is equivalent to the closing price of the stock on 10 December, 2009.
The New York headquartered payment and card services business raised US$6 million through a share placing in October.
Planet Payment revealed strong revenue growth in last month’s interim results statement. It reported a 32 percent rise in year-on-year revenue.
In November it said it was benefiting from increased transaction processing volumes, due to an increased number of active merchant locations and improving economic conditions.
The group's payment processing platform allows merchants and financial organisations to process and reconcile payments across any currency at the point of sale.
It now has 46 banking and processing customers who have continued to roll out Planet Payment's products and services in sixteen different countries.