Diligence report Industrials; fleet mobility; fuel cards; telematics; connectivity services Private-equity-backed private unicorn / CB Insights unicorn-list company

Radius Payment Solutions

Radius Payment Solutions Public-Source Startup Diligence Report

The underwriting case depends on whether a diversified fleet-and-connectivity customer base and acquisition-led expansion translate into durable recurring gross profit after fuel-card, telecoms, insurance, and EV-transition economics are normalized. Public sources support scale and sponsor involvement but do not support a quality-of-earnings view.

Company profile

Radius Payment Solutions Public-Source Startup Diligence Report

Radius appears to be an active private fleet-mobility and connectivity services platform with CB Insights unicorn-list coverage, Inflexion backing, five-continent operations, 400,000+ to 470,000+ business-customer scale claims, and a broad product suite spanning fuel cards, telematics, leasing, EV charging, telecoms, insurance, and expense management. Public evidence is strongest for market status, product breadth, sponsor backing, customer count, M&A strategy, and workforce scale; it is weak for revenue quality, margins, debt, cap-table terms, customer concentration, contract economics, regulatory exposure, and legal history.

Website: www.radius.com/en-gb
Sector: Industrials; fleet mobility; fuel cards; telematics; connectivity services
Geography: United Kingdom headquarters in Crewe with operations spanning five continents
Stage: Private-equity-backed private unicorn / CB Insights unicorn-list company
Known aliases: Radius, Radius Payment Solutions Ltd
Report version: 1.0
Timezone: UTC

Executive summary

Strengths

Radius is an active private unicorn-list company with CB Insights/Inflexion backing and a $1.07B market-database valuation marker.
Radius offers a broad fleet mobility and connectivity platform across fuel cards, telematics, vehicle leasing, EV charge points, telecoms, insurance, energy, and expense management.
Radius serves hundreds of thousands of business customers across multiple continents.
Radius has strategic relationships with major fuel, payment, telecom, energy, insurance, and mobility brands.

Risks

Financial quality and leverage opacity: Revenue mix, gross margin, debt, cash conversion, working capital, and acquisition accounting are not public for this private-equity-backed company.
Acquisition integration and roll-up execution: Inflexion says Radius completed over 25 acquisitions across five countries, creating integration, systems, culture, and synergy risk.
Supplier and partner dependency: Fuel, payment-card, telecom, insurance, energy, and EV-charging products may depend on third-party commercial terms not visible from public sources.
Customer concentration and retention opacity: Public customer counts do not reveal top-customer revenue, churn, NRR/GRR, cohort profitability, or segment concentration.
Personnel and operating-complexity risk: A 3,000-person, multi-country team implies HR, compliance, compensation, and management-depth diligence needs.

Gaps

Audited financial statements, monthly management accounts, revenue/ARR or revenue bridge, gross margin, cash, debt, working capital, and forecasts.
Fully diluted cap table, financing documents, preference stack, debt instruments, shareholder agreements, option pool, and latest valuation support.
Top-customer schedule, active/revenue-weighted customer definitions, churn/retention, backlog or pipeline, reference calls, and severed relationships.
Material customer, supplier, partner, financing, licensing, insurance, employment, IP, and real-estate contracts.
Counsel disclosure, litigation/regulatory schedule, privacy/security/compliance materials, insurance loss runs, and incident history.

Recommended next steps

Run quality-of-earnings and balance-sheet diligence before relying on public valuation or profitability/scale claims.
Validate customer quality with top-customer schedule, cohort retention, concentration, pipeline/backlog, and reference calls.
Perform legal, regulatory, IP, insurance, supplier, and material-contract review with counsel and company records.
Benchmark competitive position using third-party market data, competitor pricing, customer win/loss, and margin/cost analysis.

Risk register

high medium likelihood

R-002: Acquisition integration and roll-up execution

Inflexion says Radius completed over 25 acquisitions across five countries, creating integration, systems, culture, and synergy risk.

Diligence request: Review acquisition history, integration scorecards, impairment analysis, customer churn by acquired cohort, and systems roadmap.

high unknown likelihood

R-001: Financial quality and leverage opacity

Revenue mix, gross margin, debt, cash conversion, working capital, and acquisition accounting are not public for this private-equity-backed company.

Diligence request: Request audited financials, monthly management accounts, debt schedules, QoE, cash conversion, and revenue bridge by product/geography.

high unknown likelihood

R-004: Customer concentration and retention opacity

Public customer counts do not reveal top-customer revenue, churn, NRR/GRR, cohort profitability, or segment concentration.

Diligence request: Request active-customer reconciliation, top-50 revenue list, churn cohorts, NPS/complaints, and customer references.

medium medium likelihood

R-003: Supplier and partner dependency

Fuel, payment-card, telecom, insurance, energy, and EV-charging products may depend on third-party commercial terms not visible from public sources.

Diligence request: Review partner contracts, exclusivity, minimums, termination rights, margin share, compliance responsibilities, and concentration.

medium unknown likelihood

R-005: Personnel and operating-complexity risk

A 3,000-person, multi-country team implies HR, compliance, compensation, and management-depth diligence needs.

Diligence request: Request org chart, headcount by function/geography, attrition, compensation plans, key-person dependencies, and employment matters.

medium unknown likelihood

R-006: Valuation and cap-table uncertainty

The $1.07B marker is a public database entry; current securities terms, preferences, debt, and secondary pricing are not public.

Diligence request: Request fully diluted cap table, financing documents, preference stack, debt instruments, 409A/valuation reports, and secondary transactions.

medium unknown likelihood

R-007: Legal, regulatory, insurance, and environmental gaps

Fleet, payments, insurance, energy, telecoms, and EV charging can carry multi-regulator obligations; public-source review did not include counsel disclosures or docket searches.

Diligence request: Request counsel memo, litigation schedule, regulatory correspondence, insurance loss runs, environmental/safety records, and compliance audits.

Chapter 01

01Financial Information

Radius Payment Solutions's public financial evidence consists of unicorn-list valuation/status and selected operating proxies; full financial quality remains a high-priority data-room item.

EC-003 EC-005 EC-006 EC-008 EC-010 EC-001 EC-002

I.A Annual and quarterly financial information for the past three years

partially verified confidence: medium

Public sources support Radius Payment Solutions's unicorn-list status and selected operating signals, but audited financial statements, forecasts, cash, debt, and cap-table terms require private records.

EC-003 EC-005 EC-006 EC-008 EC-010

Evidence gaps

Request source-of-truth records for annual and quarterly financial information for the past three years covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in annual and quarterly financial information for the past three years without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate I.A (Annual and quarterly financial information for the past three years) beyond public marketing or database evidence.

Public financial and operating proxy signals
metric	public signal	source or gap	verification note
Customers	470,000+ customers worldwide	Company homepage	Medium; customer definition unknown
Customers	400,000+ business customers	Inflexion portfolio page	Medium; lower than homepage but directionally consistent
Team members	3,000 team members	Company homepage	Medium; payroll detail not public
Revenue/margin/cash/debt	Not publicly disclosed	No public data-room records	Not publicly verifiable

Financial statements, forecasts, and unit economics remain diligence-request items unless explicitly shown.

I.B Financial Projections

not publicly verifiable confidence: high

EC-010

Evidence gaps

Request source-of-truth records for financial projections covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in financial projections without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate I.B (Financial Projections) beyond public marketing or database evidence.

I.C Capital Structure

partially verified confidence: medium

EC-001 EC-002 EC-010

Evidence gaps

Request source-of-truth records for capital structure covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in capital structure without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate I.C (Capital Structure) beyond public marketing or database evidence.

Public funding and valuation history
event	date	amount or valuation	investors or parties	diligence caveat
CB Insights unicorn list marker	2017-11-27	$1.07B	Inflexion Private Equity	Public market-database marker; current terms not public
CB Insights profile financing	Approx. 2017-2018	$200.11M last raised; $250.11M total raised	Not fully disclosed in public profile	Supports sponsor-backed private status; detailed securities terms gated
Inflexion minority investment	2017-11 / Jan 2018	GBP 150M minority investment noted in selected news	Inflexion Partnership Capital	Investor portfolio selected-news item; request transaction documents

Public valuation markers are not substitutes for cap table, financing documents, or current fair-value work.

Public valuation marker and cap-table gap Public valuation markers for Radius Payment Solutions are limited to secondary list/profile evidence.

Database valuation is a starting point, not an underwriting conclusion.

I.D Other financial information

not publicly verifiable confidence: high

EC-010

Evidence gaps

Request source-of-truth records for other financial information covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in other financial information without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate I.D (Other financial information) beyond public marketing or database evidence.

Chapter 02

02Products

Radius Payment Solutions's public product evidence supports product breadth but not product-line economics, quality, or roadmap execution.

EC-004 EC-005 EC-006 EC-010

II.A Description of each product

partially verified confidence: medium

Public sources describe Radius Payment Solutions's product set, while SKU economics, roadmap cost, support burden, and quality metrics are not public.

EC-004 EC-005 EC-006 EC-010

Evidence gaps

Request source-of-truth records for description of each product covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in description of each product without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate II.A (Description of each product) beyond public marketing or database evidence.

Product and SKU matrix
product	audience	key features	public evidence	verification status
Fuel cards	SME and fleet operators	Fuel purchasing/payment solutions	Publicly listed by Radius and Inflexion	verified
Telematics and vehicle tracking	Fleet operators	Vehicle tracking, asset tracking, dash cams, compliance support	CB Insights and Radius public pages	verified
EV charging and energy transition	Fleets transitioning to EVs	EV charge points and business energy	Inflexion and Radius pages	partially_verified
Telecoms, IT, insurance, expense management	SME business customers	Connectivity and adjacent SME services	Radius homepage product list	partially_verified

Feature lists are public; adoption, margins, and support burden require private data.

Commercial packaging, pricing, and unit-economics signals
offering	public price or signal	diligence request	verification status
Fuel card and payment services	Pricing not public	Request schedule of fees, interchange, rebates, and supplier margin share	not_publicly_verifiable
Telematics and vehicle solutions	Pricing not public	Request ARPU, hardware, installation, subscription, and support economics	not_publicly_verifiable
Telecoms/insurance/energy/EV charging	Pricing not public	Request product-level gross margin and partner-contract terms	not_publicly_verifiable

List prices or product descriptions do not reveal realized pricing, discounts, gross margin, or retention.

Public product architecture map How Radius Payment Solutions's public product lines connect to customers and external dependencies.

The diagram is a diligence abstraction, not a system design document.

Chapter 03

03Customer Information

Radius Payment Solutions's public customer evidence is aggregate; customer-level revenue, retention, concentration, and references remain private.

EC-003 EC-005 EC-010 EC-004 EC-007

III.A Top customers by application

partially verified confidence: medium

Public sources provide aggregate scale or relationship signals for Radius Payment Solutions, but customer revenue, concentration, churn, and references are not public.

EC-003 EC-005 EC-010

Evidence gaps

Request source-of-truth records for top customers by application covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in top customers by application without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate III.A (Top customers by application) beyond public marketing or database evidence.

Public customer and market proof
customer or segment	public signal	source	diligence gap
Business customers globally	470,000+ customers worldwide	Company homepage	Active, paying, and revenue-weighted definitions not public
Business customers	400,000+ business customers	Inflexion	Reconcile with 470,000+ homepage metric
Top customers by revenue	Not disclosed	Diligence request	Customer concentration cannot be underwritten publicly

Aggregate scale claims should be reconciled to active, paying, revenue-weighted cohorts.

Public scale metric comparison Aggregate scale metrics publicly disclosed for customer or operating footprint.

Mixed units are intentionally labeled; use as a public-signal view only.

III.B Strategic relationships

partially verified confidence: medium

Public sources provide aggregate scale or relationship signals for Radius Payment Solutions, but customer revenue, concentration, churn, and references are not public.

EC-004 EC-007 EC-010

Evidence gaps

Request source-of-truth records for strategic relationships covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in strategic relationships without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate III.B (Strategic relationships) beyond public marketing or database evidence.

Strategic relationships and supplier dependencies
party or category	nature	public evidence	diligence gap
Inflexion	Private-equity investor / sponsor	Portfolio page says supporting Radius since 2017	Sponsor alignment and exit horizon require review
Shell, Esso, BP, Texaco, Morrisons, Moto	Fuel and mobility ecosystem logos	Displayed on Radius homepage	Logo display does not reveal contract terms or volumes
Mastercard, O2, Zurich, Scottish Power	Payments, telecoms, insurance, energy ecosystem logos	Displayed on Radius homepage	Request agreements and margin economics

Public logos and alliance references do not prove current contract economics.

III.C Revenue by customer

not publicly verifiable confidence: high

Public sources provide aggregate scale or relationship signals for Radius Payment Solutions, but customer revenue, concentration, churn, and references are not public.

EC-010

Evidence gaps

Request source-of-truth records for revenue by customer covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in revenue by customer without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate III.C (Revenue by customer) beyond public marketing or database evidence.

III.D Significant relationships severed within the last two years

not publicly verifiable confidence: high

Public sources provide aggregate scale or relationship signals for Radius Payment Solutions, but customer revenue, concentration, churn, and references are not public.

EC-010

Evidence gaps

Request source-of-truth records for significant relationships severed within the last two years covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in significant relationships severed within the last two years without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate III.D (Significant relationships severed within the last two years) beyond public marketing or database evidence.

III.E Top suppliers

not publicly verifiable confidence: high

Public sources provide aggregate scale or relationship signals for Radius Payment Solutions, but customer revenue, concentration, churn, and references are not public.

EC-010

Evidence gaps

Request source-of-truth records for top suppliers covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in top suppliers without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate III.E (Top suppliers) beyond public marketing or database evidence.

Chapter 04

04Competition

Radius Payment Solutions's competitive landscape requires deeper benchmarking because public sources do not provide win/loss or market-share data.

EC-008 EC-009 EC-010

IV.A Competitive landscape by market segment

partially verified confidence: medium

Public product categories frame likely competitors for Radius Payment Solutions, but market share, win/loss, and pricing benchmarks require separate validation.

EC-008 EC-009 EC-010

Evidence gaps

Request source-of-truth records for competitive landscape by market segment covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in competitive landscape by market segment without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate IV.A (Competitive landscape by market segment) beyond public marketing or database evidence.

Competitor comparison matrix
competitor or group	segment	product overlap	basis of competition
Corpay/FLEETCOR-like fuel-card platforms	Fuel cards and payments	High product overlap	Compete on network coverage, rebate economics, credit risk, and service breadth
WEX-like fleet-payment platforms	Fleet payments and fuel cards	High product overlap	Compete on issuer/supplier economics and enterprise fleet integrations
Geotab / Verizon Connect-like telematics vendors	Fleet telematics	Medium-high overlap	Compete on hardware, analytics, compliance, and integrations
Local telecom/insurance/energy brokers	SME adjacencies	Medium overlap	Compete on bundled service convenience and price

Competitor table is an analyst diligence map; separate competitor-source verification is required.

Competitive positioning diligence map A qualitative map of likely competitive pressure based on public product categories.

Competitor positions are not market-share claims.

IV.B Basis of competition and differentiation

partially verified confidence: medium

Public product categories frame likely competitors for Radius Payment Solutions, but market share, win/loss, and pricing benchmarks require separate validation.

EC-008 EC-009 EC-010

Evidence gaps

Request source-of-truth records for basis of competition and differentiation covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in basis of competition and differentiation without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate IV.B (Basis of competition and differentiation) beyond public marketing or database evidence.

Basis-of-competition scoring
axis	target public position	evidence strength	diligence request
Scale and reach	470,000+ customers worldwide	medium	Reconcile to customer/revenue/backlog/source-of-truth systems
Product breadth	Broad product suite is publicly described	medium	Map product-line revenue, margin, roadmap, support cost, and attach rates
Price/cost advantage	Not publicly verifiable	low	Request ASP, discounts, gross margin, contribution margin, and customer win/loss data

Scoring uses public evidence strength, not investment-grade competitive proof.

Chapter 05

05Marketing, Sales, and Distribution

Radius Payment Solutions's GTM motion can be inferred from public channels and product pages, but CAC, funnel conversion, and sales productivity are not public.

EC-004 EC-005 EC-006 EC-007 EC-010 EC-001 EC-002 EC-003

V.A Strategy and implementation

partially verified confidence: medium

Public GTM evidence shows positioning and channels for Radius Payment Solutions; funnel conversion, CAC, sales productivity, and marketing ROI are private.

EC-004 EC-005 EC-006 EC-007 EC-010

Evidence gaps

Request source-of-truth records for strategy and implementation covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in strategy and implementation without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate V.A (Strategy and implementation) beyond public marketing or database evidence.

Distribution channels and GTM motions
channel	public evidence	verification status	diligence gap
Owned digital and website/app funnel	Company public pages explain products and conversion calls to action	partially_verified	Traffic, conversion, CAC, paid mix, and cohort retention
Partner/ecosystem-led demand	Public partners, regulators, alliances, or investor ecosystem are visible where applicable	partially_verified	Partner contracts, lead contribution, attach rate, and margin share
Direct/enterprise or project sales	Likely required for large business/project customers but detailed sales force model is not public	not_publicly_verifiable	Pipeline, bookings, quota capacity, sales productivity, and channel conflict

GTM channel weights are not public.

GTM funnel and missing conversion data Publicly observable go-to-market stages with missing conversion metrics.

No CAC, conversion, pipeline, or retention data was public.

V.B Major Customers

partially verified confidence: medium

Public GTM evidence shows positioning and channels for Radius Payment Solutions; funnel conversion, CAC, sales productivity, and marketing ROI are private.

EC-001 EC-002 EC-003 EC-005 EC-010

Evidence gaps

Request source-of-truth records for major customers covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in major customers without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate V.B (Major Customers) beyond public marketing or database evidence.

Public marketing-signal summary
signal	evidence	risk or gap
Unicorn/status publicity	Radius Payment Solutions appears on public unicorn/status sources	Brand/status does not prove conversion or retention
Owned product marketing	Company-owned pages describe product set and benefits	Marketing claims need conversion and customer-reference proof
Customer/logo or scale claims	Public aggregate scale metrics are available	Named customer revenue and logo permission are not public

Marketing signal review does not substitute for funnel analytics.

V.C Principal avenues for generating new business

not publicly verifiable confidence: high

Public GTM evidence shows positioning and channels for Radius Payment Solutions; funnel conversion, CAC, sales productivity, and marketing ROI are private.

EC-010

Evidence gaps

Request source-of-truth records for principal avenues for generating new business covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in principal avenues for generating new business without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate V.C (Principal avenues for generating new business) beyond public marketing or database evidence.

V.D Sales force productivity model

not publicly verifiable confidence: high

Public GTM evidence shows positioning and channels for Radius Payment Solutions; funnel conversion, CAC, sales productivity, and marketing ROI are private.

EC-010

Evidence gaps

Request source-of-truth records for sales force productivity model covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in sales force productivity model without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate V.D (Sales force productivity model) beyond public marketing or database evidence.

V.E Ability to implement marketing plan with current and projected budgets

not publicly verifiable confidence: high

Public GTM evidence shows positioning and channels for Radius Payment Solutions; funnel conversion, CAC, sales productivity, and marketing ROI are private.

EC-010

Evidence gaps

Request source-of-truth records for ability to implement marketing plan with current and projected budgets covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in ability to implement marketing plan with current and projected budgets without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate V.E (Ability to implement marketing plan with current and projected budgets) beyond public marketing or database evidence.

Chapter 06

06Research and Development

Radius Payment Solutions's R&D/product-pipeline diligence must reconcile public technical claims to staffing, spend, roadmap, quality, and IP evidence.

EC-004 EC-005 EC-006 EC-008 EC-010 EC-007

VI.A Description of R&D organization

partially verified confidence: medium

Public R&D or product-pipeline signals exist for Radius Payment Solutions, but roadmap spend, technical debt, quality, and delivery commitments require management evidence.

EC-004 EC-005 EC-006 EC-008 EC-010 EC-007

Evidence gaps

Request source-of-truth records for description of r&d organization covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in description of r&d organization without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VI.A (Description of R&D organization) beyond public marketing or database evidence.

R&D organization and technical capability signals
signal	public evidence	diligence gap	verification status
Digital proposition and commercial systems	Inflexion says Radius enhanced commercial and digital propositions	Public detail is directional; roadmap not disclosed	partially_verified
Telematics and data products	CB Insights profile lists tracking, dash cams, asset tracking, and fleet compliance	Engineering organization and product roadmap not public	partially_verified
EV transition initiatives	Inflexion and Radius cite EV charge points and greener-future positioning	Unit economics and adoption not public	partially_verified

Public technical claims require private roadmap, staffing, cost, and quality evidence.

Publicly evidenced organization and technical capability map Public leadership or capability nodes and missing private org-chart detail.

Reporting lines are a diligence abstraction where private org charts are unavailable.

VI.B New Product Pipeline

partially verified confidence: medium

Public R&D or product-pipeline signals exist for Radius Payment Solutions, but roadmap spend, technical debt, quality, and delivery commitments require management evidence.

EC-004 EC-006 EC-007 EC-008 EC-010

Evidence gaps

Request source-of-truth records for new product pipeline covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in new product pipeline without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VI.B (New Product Pipeline) beyond public marketing or database evidence.

Public product and research pipeline
initiative	status or signal	source	verification status
New market segments	Telematics, insurance, telecoms	Inflexion says these were expansion targets during investment	partially_verified
International expansion	India and Asia Pacific relationship-building	Inflexion states its teams are driving international expansion	partially_verified
Acquisition pipeline	Further M&A not public	Requires board plan and acquisition pipeline	not_publicly_verifiable

Pipeline timing, spend, and commercial impact remain private.

Chapter 07

07Management and Personnel

Radius Payment Solutions's personnel diligence remains incomplete without org, HR, compensation, attrition, and governance records.

EC-010 EC-005 EC-006 EC-007 EC-008

VII.A Organization Chart

not publicly verifiable confidence: high

Public personnel evidence for Radius Payment Solutions is limited relative to the required org, compensation, attrition, and succession review.

EC-010

Evidence gaps

Request source-of-truth records for organization chart covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in organization chart without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VII.A (Organization Chart) beyond public marketing or database evidence.

VII.B Historical and projected headcount by function and location

partially verified confidence: medium

Public personnel evidence for Radius Payment Solutions is limited relative to the required org, compensation, attrition, and succession review.

EC-005 EC-006 EC-010

Evidence gaps

Request source-of-truth records for historical and projected headcount by function and location covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in historical and projected headcount by function and location without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VII.B (Historical and projected headcount by function and location) beyond public marketing or database evidence.

Headcount and hiring signals
function or metric	public signal	source or request	diligence gap
Total team	3,000 team members	Company homepage	Function/location split not public
Offices	50 offices globally	Company homepage	Office-level headcount and lease obligations not public
Attrition and hiring plan	Not public	Diligence request	Needed for operational scaling risk

Public headcount anchors do not provide payroll, turnover, compensation, or org-depth evidence.

Public headcount and personnel anchors Public workforce anchors and missing HR metrics.

Headcount chart is limited to public anchor points.

VII.C Senior management biographies

partially verified confidence: medium

Public personnel evidence for Radius Payment Solutions is limited relative to the required org, compensation, attrition, and succession review.

EC-005 EC-007 EC-008 EC-010

Evidence gaps

Request source-of-truth records for senior management biographies covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in senior management biographies without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VII.C (Senior management biographies) beyond public marketing or database evidence.

Senior management roster from public sources
name or role	public role	evidence or request	verification status
Bill Holmes	Executive Chair & Founder	Founder continuity publicly supported by Inflexion	verified
David Whileman / Jack Weller	Inflexion key contacts	Investor contacts, not Radius management	verified
Full executive team and board	Not public in gathered sources	Request signed org chart and board roster	not_publicly_verifiable

Full executive, board, compensation, and succession diligence remains outstanding.

VII.D Compensation arrangements

not publicly verifiable confidence: high

Public personnel evidence for Radius Payment Solutions is limited relative to the required org, compensation, attrition, and succession review.

EC-010

Evidence gaps

Request source-of-truth records for compensation arrangements covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in compensation arrangements without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VII.D (Compensation arrangements) beyond public marketing or database evidence.

VII.E Incentive stock plans

not publicly verifiable confidence: high

Public personnel evidence for Radius Payment Solutions is limited relative to the required org, compensation, attrition, and succession review.

EC-010

Evidence gaps

Request source-of-truth records for incentive stock plans covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in incentive stock plans without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VII.E (Incentive stock plans) beyond public marketing or database evidence.

VII.F Significant employee relations problems, past or present

not publicly verifiable confidence: high

Public personnel evidence for Radius Payment Solutions is limited relative to the required org, compensation, attrition, and succession review.

EC-010

Evidence gaps

Request source-of-truth records for significant employee relations problems, past or present covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in significant employee relations problems, past or present without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VII.F (Significant employee relations problems, past or present) beyond public marketing or database evidence.

VII.G Personnel Turnover

not publicly verifiable confidence: high

Public personnel evidence for Radius Payment Solutions is limited relative to the required org, compensation, attrition, and succession review.

EC-010

Evidence gaps

Request source-of-truth records for personnel turnover covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in personnel turnover without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VII.G (Personnel Turnover) beyond public marketing or database evidence.

Chapter 08

08Legal and Related Matters

Radius Payment Solutions's legal and regulatory picture cannot be cleared from public sources alone; counsel and contract diligence are required.

EC-010 EC-004 EC-006 EC-007 EC-002 EC-001 EC-003 EC-005 EC-008 EC-009

VIII.A Pending lawsuits against the Company

not publicly verifiable confidence: high

Public legal and regulatory evidence for Radius Payment Solutions is incomplete; counsel, contract, insurance, IP, and compliance records are required.

EC-010

Evidence gaps

Request source-of-truth records for pending lawsuits against the company covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in pending lawsuits against the company without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VIII.A (Pending lawsuits against the Company) beyond public marketing or database evidence.

VIII.B Pending lawsuits initiated by Company

not publicly verifiable confidence: high

Public legal and regulatory evidence for Radius Payment Solutions is incomplete; counsel, contract, insurance, IP, and compliance records are required.

EC-010

Evidence gaps

Request source-of-truth records for pending lawsuits initiated by company covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in pending lawsuits initiated by company without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VIII.B (Pending lawsuits initiated by Company) beyond public marketing or database evidence.

VIII.C Environmental and employee safety issues and liabilities

not publicly verifiable confidence: high

Public legal and regulatory evidence for Radius Payment Solutions is incomplete; counsel, contract, insurance, IP, and compliance records are required.

EC-010

Evidence gaps

Request source-of-truth records for environmental and employee safety issues and liabilities covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in environmental and employee safety issues and liabilities without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VIII.C (Environmental and employee safety issues and liabilities) beyond public marketing or database evidence.

VIII.D Material patents, copyrights, licenses, and trademarks

partially verified confidence: medium

Public legal and regulatory evidence for Radius Payment Solutions is incomplete; counsel, contract, insurance, IP, and compliance records are required.

EC-004 EC-006 EC-007 EC-010

Evidence gaps

Request source-of-truth records for material patents, copyrights, licenses, and trademarks covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in material patents, copyrights, licenses, and trademarks without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VIII.D (Material patents, copyrights, licenses, and trademarks) beyond public marketing or database evidence.

IP, material contracts, insurance, and special exposures
category	public signal	needed evidence	priority
Material contracts	Public product/partner evidence exists where applicable	Customer, supplier, partner, licensing, bank, distributor, and service-provider agreements	high
IP and technology ownership	Product and technology claims are public	Patent/trademark schedule, licenses, assignments, open-source/software or process IP review, freedom-to-operate memo	high
Insurance and claims	No policies or loss runs public	Insurance schedule, broker letters, loss runs, exclusions, and pending claims	medium

Absence of public evidence is not a clean legal conclusion.

VIII.E Insurance coverage and material exposures

not publicly verifiable confidence: high

Public legal and regulatory evidence for Radius Payment Solutions is incomplete; counsel, contract, insurance, IP, and compliance records are required.

EC-010

Evidence gaps

Request source-of-truth records for insurance coverage and material exposures covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in insurance coverage and material exposures without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VIII.E (Insurance coverage and material exposures) beyond public marketing or database evidence.

VIII.F Material contracts

not publicly verifiable confidence: high

Public legal and regulatory evidence for Radius Payment Solutions is incomplete; counsel, contract, insurance, IP, and compliance records are required.

EC-010

Evidence gaps

Request source-of-truth records for material contracts covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in material contracts without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VIII.F (Material contracts) beyond public marketing or database evidence.

VIII.G Regulatory agency problems

partially verified confidence: medium

Public legal and regulatory evidence for Radius Payment Solutions is incomplete; counsel, contract, insurance, IP, and compliance records are required.

EC-002 EC-004 EC-006 EC-010 EC-001 EC-003 EC-005 EC-007 EC-008 EC-009

Evidence gaps

Request source-of-truth records for regulatory agency problems covering the last three fiscal years and YTD where applicable.

Hidden risks

Public-source diligence cannot detect undisclosed issues in regulatory agency problems without company, counsel, customer, or supplier records.

Follow-up questions

Provide documents and management explanations sufficient to validate VIII.G (Regulatory agency problems) beyond public marketing or database evidence.

Legal and regulatory matter summary
matter	public status	source or request	verification status
Company status	CB Insights stage Private Equity \| Alive	Market-database profile supports active private status	verified
Litigation/regulatory actions	No docket or counsel schedule reviewed	Public sources gathered do not resolve legal exposure	not_publicly_verifiable
Companies House / statutory filings	Not successfully retrieved in this workflow	Request official filings and director/shareholder history	inconclusive

This is not a counsel-certified litigation or regulatory search.

Risk heatmap from public-source diligence Severity/likelihood view of the risk register.

Unknown likelihood means public evidence is insufficient, not that risk is low.

Evidence

Evidence claims
ID	Claim	Status	Sources
EC-001	CB Insights lists Radius Payment Solutions as an uncovered unicorn-list company with a $1.07B valuation marker.	verified medium	SRC-001
EC-002	CB Insights profile describes Radius as Private Equity \| Alive, founded in 1990, with $250.11M total raised and $200.11M last raised.	verified medium	SRC-002
EC-003	Inflexion says it has supported Radius since 2017 and describes Radius as serving 400,000+ business customers across five continents.	verified medium	SRC-003
EC-004	Inflexion describes Radius product breadth and M&A expansion into fuel cards, telematics, vehicle leasing, EV charge points, telecoms, insurance, and related services.	verified medium	SRC-003
EC-005	Radius homepage describes a broad product set and says Radius was established in 1990 and trusted by over 470,000 businesses.	verified medium	SRC-004
EC-006	Radius homepage reports 470,000+ customers worldwide, 50 offices globally, and 3,000 team members.	verified medium	SRC-004
EC-007	Radius public partner logos include major fuel, payment, telecom, energy, insurance, and mobility brands.	partially verified medium	SRC-004
EC-008	Bill Holmes is publicly presented by Inflexion as Radius executive chair and founder.	verified medium	SRC-003
EC-009	Competitive positioning is an analyst grouping based on Radius public product categories, not an independently sourced competitor market share study.	inconclusive low	SRC-003 SRC-004
EC-010	No public audited financial statements, customer revenue schedules, material contracts, litigation docket review, insurance policies, or cap table were available in gathered sources.	not publicly verifiable high

Sources
ID	Publisher	Title	Accessed
SRC-001	CB Insights	The Complete List Of Unicorn Companies	2026-05-19
SRC-002	CB Insights	Radius - Products, Competitors, Financials, Employees, Headquarters Locations	2026-05-19
SRC-003	Inflexion	Radius Payment Solutions \| Inflexion	2026-05-19
SRC-004	Radius	Radius \| Fleet Mobility and Connectivity Solutions	2026-05-19

Disclaimer

This report is a public-evidence diligence snapshot, not investment advice. Important financial, legal, technical, and contractual facts remain non-public and should be verified directly with management and primary documents before any investment decision.