The investment will help Payworks develop and expand its Point of Sale technology, which, according to the company, has become an important offering for omnichannel payment providers. The company will also focus on R&D and expanding its teams across offices in Munich, New York, London and Barcelona.
With CommerzVentures and Visa joining the Series B, existing investors, Speedinvest and Finparx also contributed to the round. The recent financing brings Payworks’ total funding to USD 19 million. FT Partners served as the exclusive strategic and financial advisor to Payworks.
Founded in 2012, Payworks has developed a payment gateway technology, operated in the cloud and provided in a Software as a Service model to payment providers.
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