Zooz Nets $12 Million in New Funding
July 17, 2014
Israeli payment technology provider Zooz yesterday revealed it has closed on a $12 million round of investment. Zooz, which began by providing technology developers could integrate into apps to facilitate mobile payments has evolved into a platform for enterprise-class merchants that enables cross-border e- and m-commerce by connecting them with multiple acquirers and payment methods.
“We’re not severing the connection between retailers and their acquirer, but rather enabling for them to have better flexibility, more choice or quicker go-to-market if you want to roll out globally,” Oren Levy, CEO of Zooz, told CardNotPresent.com. “Being able to connect to multiple acquirers in multiple regions with just a single API and Smart Routing can definitely save you a lot of money. If you’re connected to just one acquirer, you can’t do that.”
Levy said Zooz’s platform not only enables merchants to route online transaction through acquirers in different regions, but can “Smart Route” in-store transactions to multiple acquirers as well. Using the Zooz platform in every channel enables merchants to gather and leverage all its consumer data for personalization, loyalty or promotion.
The Series B round of funding was led by Blumberg Capital with participation for existing investors.