KIWE app, a mobile payment application, has closed its seed funding round, as it continues its aim to be the word associated with payments.
The round was backed by DFIN Holding, EFG Hermes and Marakez, as well as several unnamed angel investors.
Each of the investors of the funding round will help KIWE’s growth in a specific manner. KIWE will leverage DFIN’s’ tech-based financial portfolio, utilise EFG’s Valu as a key payment method and roll out across Marakez’s portfolio of commercial and residential projects.
KIWE’s mission is to become a verb interchangeable with any word that speaks payments. It hopes for a future where its customers instinctively reach for their phones whenever a receipt is printed, a check comes to the table of a friend’s pay back is due.
As part of this goal, KIWE is hoping to foster a cashless ecosystem through a merchant network that provides customers with a safe, simple and fun payment experience.
In other PayTech news, last week saw cross-border payments app Chipper Cash earn a $2bn valuation after the close of a $150m Series C round.
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