Emergent Payments scores $5m to reach more merchants

Emergent Payments has raised $5m in an equity funding round from Responsible Gold Holding as well as existing backers.

The California-based company offers payments solutions to merchants in emerging markets such as Latin America, Asia, India and Eastern Europe.

Company CEO Mitch Davis said: “We see strong demand for high performance, reliable payment solutions in growth markets.

“Countries like India, Brazil, Malaysia and China are complex because of the range of local methods, regulations, tax, remittance and optimisation.

“Emergent Payments has strong technology, deep payments expertise, and opportunity to really scale.”

The firm will use the capital to grow its footprint in emerging markets having opened offices in Nigeria and Bangladesh in the past year.

The funding will also fuel expansion in its research and developments efforts.

Chief payments officer Rossini Zumwalt commented: “We like to see ourselves as a part of our merchant’s extended payments team.

“The team has a deep merchant payments background in international markets, and we pride ourselves on delivering a high level of service and payment solutions tailored to our clients’ individual business requirements.”

The company previously raised a $6.8m Series C round in July 2013.

Copyright © 2017 FINTECH GLOBAL

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