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Payleven, The Mobile Payments Startup Raises More Funds

Payleven, a mobile payments startup which came to life in 2012 at Berlin Rocket Internet has certainly come a long way. Today, the company is about to announce a Series D round. The hot news is that Payleven has managed to raise $10 million growth round from a handful of investors like ru-Net, Holtzbrinck Ventures, B Cinque, New Enterprise Associates (NEA) and MePay with Seventure Partners.

Including this round, the firm has so far raised a grand total of $51 million to date, with no valuation being disclosed. Payleven has not made it clear what exactly it is going to do with the newly raised funds except for the hint that it will be focusing on the expansion of new products and speeding up the acquisition of new customers.

So far, Payleven’s business has been revolving around point-of-sale hardware that works with Android smartphones and tablets or with iOS, with some accounting software around the transaction data. To be precise, it has been aiming at small retailers who may have found card-charging options too overpriced in the initial days.

Payleven has always followed the path to mould itself into an international business and at present, it is in great demand in 11 markets in Europe as well as Brazil. Initially, Payleven had adopted Rocket’s infrastructure to expand itself as a business. But sources have said that it will take a different turn in the future, away from its parent company.

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