The fund participated in the round alongside some of the existing investors, Holtzbrinck Ventures, ru-Net, B Cinque, New Enterprise Associates (NEA) and MePay.
The newly secured investment provides payleven with additional growth capital and brings the total amount raised to USD 51 million.
The funding will be used to foster payleven’s growth through the expansion into new products and the acceleration of customer acquisition. Also, the investment will support payleven in achieving its mission to help small businesses through easy-to-use technology and financial services.
In 2012, payleven pioneered with the launch of its chip-and-PIN card reader, the payleven Classic, which is currently available in eleven markets in Europe and South America.
In 2015, payleven launched the payleven Plus, which has no monthly fees and no contractual lock-in but has contactless payment enabled. Beyond card payments, the app solution encompasses tools that help business owners, such as sales reporting and the option to email customers their receipts.
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