European Mobile POS Firm Nets New Round of Financing 

Jan. 22, 2013

Payleven, a German mobile payment company that launched a mobile Chip & PIN card acceptance system in Europe in the fall of 2012 , yesterday said it has received a new round of financing totaling a bit less than US$10 million (the company’s announcement specified only “high single digits”). Payleven said the new capital will enable continued “strong growth” of its Square-like solution in Europe and South America.

“We are thrilled to see our investor base grow, which reflects the excitement for the first Chip & PIN mobile point of sale in Continental Europe,” said Co-Founder and Chief Marketing Officer Konstantin Wolff. “We want to remain innovative, develop our product and accelerate the growth of our merchant base. The close partnership we have with our investors is key to achieve this.”

Payleven said the funding comes from a new investor—though it declined to specify the name of the firm—joining an existing group of investors that include New Enterprise Associates, Holtzbrinck Ventures, ru-Net and Rocket Internet.