PayNearMe lands $45m in Series D funding
US-based fintech PayNearMe has secured $45 million in a Series D funding round led by Queensland Investment Corporation (QIC).
PayNearMe secures $45m Series D funding
The round also saw participation from True Ventures, Costanoa Ventures, August Capital, DNS Capital, Invicta Management and H Barton Asset Management.
Founded in 2009, the Santa Clara, California-based firm operates a payments platform processing a range of payment types including cash, debit, credit, ACH and mobile-first payments for businesses and government agencies worldwide.
The company claims its platform also helps businesses increase customer engagement, improve operational efficiency and drive down the total cost of accepting payments.
With the new funds, PayNearMe plans to accelerate its growth, develop its payments platform further, and create more data-driven value for its clients by helping them create “hyper-personalised” experiences, increase operational efficiency and unlock more revenue streams.
“Payments data is the next emerging opportunity for businesses, and PayNearMe is enabling its clients to access that data and leverage it as a strategic asset,” says Matt Diestel, partner at QIC. “The company’s innovation is extremely powerful and will, no doubt, transform the payments industry.”
