PayNearMe has announced the completion of a $45m Series D round of fundraising, which was led by Queensland Investment Corporation (QIC) and included True Ventures, Costanoa Ventures, August Capital, DNS Capital, Invicta Management and H. Barton Asset Management.
Matt Diestel, Partner at QIC, said: “We’ve been impressed with PayNearMe’s performance and breakout success. Payments data is the next emerging opportunity for businesses and PayNearMe is enabling its clients to access that data and leverage it as a strategic asset. The company’s innovation is extremely powerful and will, no doubt, transform the payments industry.”
Danny Shader, PayNearMe CEO, said: “Our growth has continued to accelerate as we serve the needs of more and larger clients. This investment enables us to deploy additional resources to increase the rate of innovation for our clients, allowing us to support the increasing demand for frictionless payments in new and existing vertical markets by developing features that deliver value across the full payment experience.”
Meanwhile, the Kansas Racing and Gaming Commission granted PayNearMe permission to offer its MoneyLine platform to licensed operators in Kansas in September of last year. Following the commission's clearance, PayNearMe increased the number of states in which it offers iGaming and online sports betting to 20. Connor McNulty, VP, Legal and Chief Compliance Officer, said: “We have deep expertise in the industry and have worked closely with the Kansas Racing and Gaming Commission to ensure our service is compliant with all applicable statutory requirements.”
