The mobile payments outfit Payconiq raised €20m in venture capital to fund its expansion across Europe.
The funding round was “led by its existing shareholders,” Payconiq said in a press release on 25 July.
The news announcement stated:
“The latest funding will be used to aggressively speed up new developments and generate a closer integration with banks and merchants, as well as to consolidate the fintech’s presence in Benelux.”
A spokeswoman told Delano on Friday that “this was our second round of funding” and that “€20m is quite a significant investment and it will allow us to further develop our business.”
She declined to disclose the amount of its first funding round and the business information website Crunchbase did not list it.
Payconiq runs an electronic payment “app which can be used for omnichannel payments: in store, online and between friends.” It currently operates in the Benelux countries. The press release said “60,000+ merchants” are on its platform.
The company was founded in 2014, when it was spun out of ING, but now has partnerships with other big banks, such as BNP Paribas Fortis and KBC. In 2017, it bought the Luxembourg mobile payments outfit Digicash and it still trades under the Digicash brand in the grand duchy.
We're happy to announce that we got a EUR 20m #capital boost from our shareholders to speed up new developments and get a closer integration with #banks and #merchants.