Keyboard payment solution PayKey has reportedly closed a $10m Series B funding round led by Israel-based MizMaa.
Other contributions to the investment came from SBI Group, Digital Ventures, SixThirty, Fintech71 and The FinLab, according to an article by Bank innovation which cites the company’s CEO.
Tel Aviv-based PayKey enables access to finances from a range of social applications, including Facebook Messenger, Twitter, What’s App, Snapchat, Skype, and Hangouts, among others. Through the platform a user can send money to contacts via the chat messenger, by integrating with the users mobile a banking application.
Payments are not the only solutions available, with the application also allowing users to request payment, check balance, and make cardless cash withdrawal, among others. PayKey is currently partnered with financial institutions including, Santander, Citibank, Mastercard, Commerzbank, BBVA, Nationwide and ING Bank, among others.
This line of equity will help PayKey to boost its expansion strategy across Asia, with a new office being planned for either Hong Kong or Tokyo, it said. In the future the company is also looking to expand into the US, but a timeline has not been confirmed, the article states.
PayKey raised a $6m Series A round led by e.ventures and Wharton Asset Management’s Gaby Salem, last year. The precious capital was used to help develop the technology solution.
Other deals in the payments sector this week saw Lightspeed POS close a $166m Series C round, which was led by Caisse de dépôt et placement du Québec. Heidelpay bought the German POS solution provider StarTec and payment solution CardX closed a $2.1m round led by NXGEN International.
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