PayNearMe, a prominent fintech company based in Santa Clara, California, has successfully raised $45 million in its recent Series D funding round. The funding round was led by Queensland Investment Corporation (QIC), along with notable participation from True Ventures, Costanoa Ventures, August Capital, DNS Capital, Invicta Management, and H. Barton Asset Management.
This substantial injection of capital will play a vital role in propelling the growth and development of PayNearMe’s state-of-the-art payments platform. With a strong commitment to enhancing the payment experience for consumers, the company aims to generate data-driven value for its clients while also streamlining operational efficiency.
Under the guidance of CEO Danny Shader, PayNearMe has been at the forefront of technological advancements that revolutionize payment experiences for businesses and their customers. By leveraging their innovative platform, businesses can effectively engage customers, optimize operations, and reduce the overall cost of accepting payments.
PayNearMe takes pride in its versatile payment processing system, which supports a wide array of payment types, including popular options such as Apple Pay, Google Pay, PayPal, Venmo, as well as traditional cards and ACH transactions. Furthermore, the company has been facilitating cash payments through its proprietary cash network since 2009. This distinctive capability enables cash payments to be conveniently accepted at over 40,000 retail locations throughout the United States, including prominent retailers like 7-Eleven®, Walmart®, Family Dollar®, Casey’s General Stores®, and ACE Cash Express®, among others.
With this substantial funding boost, PayNearMe is poised to spearhead innovation within the fintech industry, advancing its mission of delivering seamless and enhanced payment experiences to consumers. Through the utilization of their robust payments platform and the expansion of their retail partnerships, PayNearMe is actively shaping a more convenient and inclusive payment ecosystem for all.