Three-Time Finovate Better of Present Winner PayNearMe Raises $45 Million in New Funding

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 whole fairness capital to greater than $118 million.
PayNearMe has received Finovate Better of Present awards on three completely 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.

Contemporary valuation information was not instantly accessible. The corporate’s newest funding takes the agency’s whole fairness capital to greater than $118 million, in line with 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 permits us to deploy further assets to extend the speed of innovation for our purchasers, permitting us to assist the rising demand for frictionless funds in new and present vertical markets by creating 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 purchasers profit from entry to funds information which permits them to extend operational effectivity and produce new income streams by constructing “hyper-personalized” experiences for his or her clients. QIC Accomplice Matt Diestel underscored this chance, noting in an announcement that “funds information is the following rising alternative for companies”. Diestel added that “PayNearMe is enabling its purchasers to entry that information 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 residence prime 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 cost sorts it will possibly supply.

Additionally this spring, PayNearMe introduced a partnership with Allied Enterprise Programs, and a collaboration with Lottery Now – which, like Maverick Gaming, can also be deploying PayNearMe’s MoneyLine platform. Notice that the expertise received “Greatest Shopper Funds Platform” on the FinTech Breakthrough Awards for a fourth yr in a row.