cashcloud wins millions in latest funding round


Payments start-up cashcloud has completed a third financing round with new investors, raising an undisclosed amount in the area of ‘several million Swiss francs’ to develop and distribute the its mobile cashcloud eWallet.

“We started very successfully with our eWallet,” said Cashcloud Holdings AG chairman Sven Donhuysen, noting that his company’s eWallet offering won the Banking IT Innovation award this year in a category that included Yapital and PayPal.

“We are pleased with the confidence of our new investors,” he continued. “It allows us to continue on our chosen path.”

With the release of Apple Pay in the United States, NFC is now a technical standard, a transition that cashcloud is planning to capitalise on.

“We were convinced from the beginning that contactless payments via NFC will be the only acceptable approach,” Donhuysen added.

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