The ruble is rolling in at Payworks: The Munich-based startup has closed a Series A financing round of $4.5 million. The capital comes from fintech investors Rumford and HW Capital, as well as leading US and European payment experts. Existing investor Speedinvest is also participating in the financing round.
Payworks currently supports payment service providers in over 15 countries with its technology. The fresh capital will be used to further expand the startup's business and presence in Europe and North America.
The young company develops and operates an infrastructure for the secure processing of card payments. It offers technology for modernizing POS systems, thus competing with the current heavyweights of the payment industry.
Pulse, the payment gateway technology from Payworks, is a flexible platform for card acceptance in stationary and mobile point of sale solutions.
“Renewing an outdated infrastructure on a global scale”
Nicholas of Taysen, Partner at Rumford, about the investment:
"Payworks is one of the few companies that has the opportunity to renew an aging infrastructure on a global scale. We are very excited to work with the outstanding team on this vision."
Christian Deger, CEO and co-founder of Payworks:
"We are very happy to have attracted a great group of investors for our Series A round. With their support, we will make Pulse accessible to even more merchants worldwide and further expand our position as a leading technology provider in payments."
The company, founded by David Bellem, Johannes Lechner, Christian Deger and Simon Eumes, has headquarters in Munich as well as offices in Great Britain, the USA and Spain.
