Nov. 13, 2018
Poynt, a provider of point of sale technology, has raised $100 million in Series C funding from investors including Elavon, a subsidiary of U.S. Bank, and National Australia Bank, according to company releases from Poynt and Elavon, according to a company press release.
Poynt said the funding will be used to expand into new markets in Asia, Europe, South America, invest in new talent and also invest in product and partner development.
Poynt and Elavon said the investment strengthens their existing relationship formed in 2017, to bring the Poynt Smart Terminal to Canada.
In 2015, Poynt raised $28 billion in Series B funding led by Oak HC/FT and Stanford-StartX Fund. CEO Osama Bedier, the founder of Google wallet and a former PayPal executive, said the company has raised more than $133 million since the company launched in 2013.
Poynt OS provides an Android-based platform that is hardware agnostic and allows merchants to use third-party and custom apps that help merchants extend their capabilities. The company expects Poynt OS to be at least half of the world’s leading POS terminal manufacturers in 2019.
Poynt has shipped about 150,000 terminals in the past 16 months, adding that almost 30 million customers have made transactions on a Poynt terminal. It expects $25 billion to be raised over the next 12 months, according to the release.
Topics: Financial News, POS
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