Leaf secures USD20m for mobile payments

Secured funding

Square clone Leaf has raised USD20m for its point of sale mobile payments technology. Funding came from Heartland Payment Systems, which handles payments for local merchants and claims to have more than 60,000 customers. Leaf has 1,000 customers to date and faces fierce competition from not jut Square but a host of rivals seeking to gain ground in the space.

“While discussing a major distribution deal with Heartland, it became clear that we have much deeper synergies than simply selling together. Heartland is spearheading a new wave of innovation across the industry that aligns with our mission of creating an open platform that empowers business owners to aggregate valuable services under one digital fingerprint,” said Aron Schwarzkopf, co-founder and CEO of Leaf.  

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