Citcon closes $30 million Series C funding round

Mobile wallet payment provider, Citcon, has bagged $30 million in funding in a Series C round co-led by Norwest Venture Partners and Cota Capital. 

Sierra Ventures and Sonae IM also participated, which brings Citcon’s total raised since its 2015 inception to nearly $50 million.

The new funding will support the addition of staff and global expansion.

“We enable global commerce at scale by allowing merchants to accept payments by mobile wallet and alternative currencies with the same ease as they process traditional credit card payments today,” says Chuck Huang, CEO and Founder at Citcon. 

"We are honoured to have earned the support of incredible investors that will strengthen our efforts to continue driving innovation and global expansion."

Citcon's payments gateway allows merchants to deploy online or in-store transactions with more than 100 different payment methods, including mobile wallets, local payment schemes, and traditional credit cards, through one integration and reconciliation platform. 

"Citcon is addressing the global digital wallet market with an omnichannel payments platform that creates a simple, efficient, and safe way for merchants to accept alternative and traditional payments,” says Priti Youssef Choksi, Partner of Norwest Venture Partners. 

“As mobile wallets continue toward ubiquity, buoyed by today’s post-Covid consumer behaviours, we expect to see explosive growth in this category and we believe Citcon has the ingredients to own the leadership position.”

Funding roundsStaff WriterCitcon, Mobile wallets, Mobile retail, Funding rounds, Payments, StartupsComment