Big hitters back Payworks

Point of Sale technology venture, Payworks, has completed a $14.5 million Series B financing round which included CommerzVentures and Visa.

This brings the German PayTech’s total funding to $19 million. It plans to use the cash to drive global growth and scale, focusing on increasing its R&D and product teams across offices in Munich, New York, London and Barcelona. “With the rapid evolution of how customers pay and get paid, Visa is committed to ensuring secure, fast and convenient payments at the Point of Sale,” says Carleigh Jaques, SVP, Global Head of Digital Merchant Products at Visa. “As a payments industry leader, Visa is excited to help the Payworks team grow and bring innovative solutions to market and enable merchants to remain at the forefront of digital payments evolution.”

Christian Deger, CEO and Founder, Payworks, says: “We are on a great mission to build a new operating system for the Point of Sale and are very excited to have CommerzVentures and Visa join us on that journey. With the additional funding we are fully equipped to further develop our technology and product and support the demand coming from leading payment players looking to modernise their solutions.”