Australia-based Verrency bags $15m Sereis A to support its international growth

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fintech insurtech wealthtech regtech ai cybertech esg news

Payment solution platform Verrency has bagged $15m in a Series A funding round, as it looks to further international expansion.

Australia-based Verrency is a payments solution which allows issuers to offer the latest payment capabilities, through their existing infrastructure. The platform allows consumers to have control over their cards, issuers to create specific purpose cards, gain access to any payment terminal and offer rewards to consumers.

Verrency gives users access to all cards in one wallet and also the ability to trade in cryptocurrencies.

This equity line will help the company to continue is international expansion, with the company having recently opened an office in London to support its launch in the UK later this year. At the end of the year Verrency will open new offices in the San Francisco and in Singapore, with an office in the European Union to be opened in 2018.

The company recently raised $4m in a pre-commercialisation round, and expecting to raise another $15m in a round next year, with Verrency already in discussions with investors.

Last week POS payment specialist StarTec was acquired by Heidelpay, smartphone keyboard payment option PayKey secured $10m in funding and JPMorgan Chase acquired payment solution WePay.

Last month saw several other Australia-based FinTech companies receive investments including RateSetter Australia closing a $10.5m round led by Five V Capital and RegTech company Lucsan seeing a commitment from IRESS. 

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