Pagos, a payments intelligence company, has scored $34m in a Series A funding round headed by Arbor Ventures.
Also taking part in the funding round was Infinity Ventures, Underscore VC and Point 72 Ventures. Pagos was founded by veterans from PayPal and Braintree.
Pagos claims it is merchant-centered, data powered, and tech enabled. The firm said it is focused on reducing payments complexity, driving better performance and revenue growth, and fostering a community of learning across the payments industry.
The firm’s core team has 50 plus years of collective experience in financial technology, and it claims its mission is driven by what they have learned.
Pagos said it wants firms to be able to deliver best-in-class payment experiences and understand when and where things are changing over time.
The Pagos platform is used by big name brands such as Warner Bros Discover, GoFundMe, Eventbrite and Adobe. It helps these companies turn digital payments data into actionable business insights.
The proceeds from the raise will be used to expand its engineering team and further develop its platform enterprise product suite.
Pagos CEO Klas Bäck said, “Our platform helps companies understand and act on the data that already exists within their payments environment, allowing them to better support changing consumer behaviour and demands, reduce their operating costs, increase their revenue, and mitigate unnecessary customer friction—all without having to change their current payments infrastructure.”
Back in October 2021, Pagos collected $10m in seed funding. The company aimed to use the capital to scale its data platform and API-driven microservices.
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