Series B funding
Mobile payments company Paydiant has raised USD12 million in Series B funding led by Stage 1 Ventures, with participation from existing investors North Bridge Venture Partners and General Catalyst Partners. The latest investment follows a USD7.6 million Series A round last year and brings the company’s total funding to USD19.6 million. Under the deal, Stage 1 Ventures MD David Baum will join Paydiant’s board.
Paydiant offers a platform that banks and merchants can brand as their own mobile payments services and add into their existing apps. The company plans to use the new financing to develop its white label business relationships and is currently trialling its services with five of the top 15 US banks.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
