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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 gained Finovate Better of Present awards on three completely different events.
PayNearMe, a fintech that has gained 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.
Contemporary valuation knowledge was not instantly accessible. The corporate’s newest funding takes the agency’s complete fairness capital to greater than $118 million, in keeping with Crunchbase. The funding will allow the corporate to speed up development and additional growth of its funds platform.
“Our development has continued to speed up as we serve the wants of extra and bigger shoppers,” PayNearMe CEO Danny Shader stated. “This funding allows us to deploy extra assets to extend the speed of innovation for our shoppers, permitting us to help the rising demand for frictionless funds in new and present vertical markets by growing options that ship worth throughout the total cost 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 shoppers 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 prospects. QIC Associate Matt Diestel underscored this chance, noting in a press release that “funds knowledge is the following rising alternative for companies”. Diestel added that “PayNearMe is enabling its shoppers to entry that knowledge and leverage it as a strategic asset.”
PayNearMe gained Better of Present in its Finovate debut at FinovateFall in 2010, and went on to take residence prime honors twice once more throughout the following three years. Earlier this 12 months, the corporate introduced that U.S.-based iGaming operator Maverick Gaming had chosen PayNearMe’s MoneyLine platform to increase the variety of cost varieties it might probably 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 expertise gained “Finest Shopper Funds Platform” on the FinTech Breakthrough Awards for a fourth 12 months in a row.
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