Vancouver’s Digital Payment Technologies Corp. (DPT) announced today that they have received a $3 Million investment and conditional commitment for an additional $3 Million from Toronot-based C.A. Bancorp Inc.. The additional $3 Million will be advanced over the next six months to finance the company’s growth.
The proceeds of C.A. Bancorp’s investment will provide DPT with the necessary working capital to capitalize on DPT’s backlog of new business and the tremendous market demand for new parking system installations while enhancing DPT’s ability to meet customer delivery expectations.
In today’s volatile financial markets, this sizable growth capital investment is testament to both DPT’s market opportunity and the strength of C.A. Bancorp.
DPT is a leader in the design, manufacture, and distribution of electronic parking meters, management software, and online services for the parking industry. DPT’s products provide complete financial tracking, control, and reporting on parking revenue collected by cities, municipalities, universities, parking management companies, private operators and parks, from customer payment through to bank deposit.
In 2007, the British Columbia Technology Industry Association named DPT Emerging Company of the Year. In the same year, DPT placed on Deloitte’s Technology Fast 50 and Fast 500 lists for the second consecutive year as one of the fastest growing high technology companies in Canada and North America.