The funding round, led by Queensland Investment Corporation, and closed at $45 million with the help of Costanoa Ventures, DNS Capital, True Ventures Invicta Management, H. Barton Asset Management, and August Capital, gives the company the opportunity to continue innovating its payments solutions and deliver data-driven value to its partners.
PayNearMe to Leverage Financial Injection to Beget Innovation and Growth
QUIC Partner Matt Diestel welcomed the opportunity to see this funding round complete successfully and considerably expand the available war chest PayNearMe has to continue driving industry-leading solutions. He noted:
Payments data is the next emerging opportunity for businesses, and PayNearMe is enabling its clients to access that data and leverage it as a strategic asset. The company’s innovation is extremely powerful and will, no doubt, transform the payments industry.
QUIC Partner Matt Diestel
Data is a big buzzword in the fintech industry as it empowers partners to create tailored experiences that resonate with customers and help optimize metrics such as retention and engagement and from there on, revenue. PayNearMe can of course use these solutions across a number of verticals and businesses, with iGaming and sports betting definitely an important part of the company’s strategy for growth and expansion.
PayNearMe CEO Danny Shader said that the company has been working with bigger clients and that growth has been steady. The new investment would help ensure that the company has the additional resources to offer the quality product that its partners have come to expect.
There is more demand for innovative and frictionless payments, Shader explained, as PayNearMe continues to explore new business avenues, industries, and verticals. PayNearMe has become a comprehensive solution for payment types, including Google Pay, Apple Pay, Venmo, ACH, and so many others.
Fiona Simmons
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