Santa Clara, California-based fintech PayNearMe has raised $45 million in Sequence D funding.
The spherical was led by Queensland Funding Company (QIC). The funding takes PayNearMe’s complete fairness capital to greater than $118 million.
PayNearMe has received Finovate Better of Present awards on three totally different events.
PayNearMe, a fintech that has received Better of Present at Finovate conferences on three separate events, has secured $45 million in Sequence D funding.
The spherical was led by Queensland Funding Company (QIC). True Ventures, Costanoa Ventures, August Capital, DNS Capital, Invicta Administration, and H. Barton Asset Administration additionally participated.
Recent valuation knowledge was not instantly obtainable. The corporate’s newest funding takes the agency’s complete fairness capital to greater than $118 million, in response to Crunchbase. The funding will allow the corporate to speed up progress and additional growth of its funds platform.
“Our progress has continued to speed up as we serve the wants of extra and bigger purchasers,” PayNearMe CEO Danny Shader mentioned. “This funding allows us to deploy further sources to extend the speed of innovation for our purchasers, permitting us to help the growing demand for frictionless funds in new and current vertical markets by growing options that ship worth throughout the total fee expertise.”
Based in 2009, PayNearMe facilitates money, debit, credit score, ACH, and cell funds – together with each Apple Pay and Google Pay – for 1000’s of companies and organizations throughout the U.S. PayNearMe purchasers profit from entry to funds knowledge which allows them to extend operational effectivity and produce new income streams by constructing “hyper-personalized” experiences for his or her clients. QIC Associate Matt Diestel underscored this chance, noting in a press release that “funds knowledge is the subsequent rising alternative for companies”. Diestel added that “PayNearMe is enabling its purchasers to entry that knowledge and leverage it as a strategic asset.”
PayNearMe received Better of Present in its Finovate debut at FinovateFall in 2010, and went on to take dwelling high honors twice once more inside the following three years. Earlier this yr, the corporate introduced that U.S.-based iGaming operator Maverick Gaming had chosen PayNearMe’s MoneyLine platform to increase the variety of fee sorts it could actually supply.
Additionally this spring, PayNearMe introduced a partnership with Allied Enterprise Methods, and a collaboration with Lottery Now – which, like Maverick Gaming, can also be deploying PayNearMe’s MoneyLine platform. Word that the know-how received “Finest Shopper Funds Platform” on the FinTech Breakthrough Awards for a fourth yr in a row.
