Payworks, a Munich, Germany-based payment technology company, completed a $14.5M Series B financing round.
Backers included TCommerzVentures and Visa (NYSE:V) and existing investors Speedinvest and Finparx.
The company intends to use the funds to drive global growth and scale, focusing on increasing its R&D and Product teams across offices in Munich, New York, London and Barcelona.
Founded in 2012 by Christian Deger, CEO, Payworks has developed a payment gateway technology, operated in the cloud and provided in a Software as a Service model to payment providers. The company’s technology offers a pre-certified and accessible gateway solution which is facilitating innovation in the integrated Point of Sale space. Payworks also provides a suite of developer tools and integrations into systems such as loyalty programs and CRM, allowing merchants and payment providers to optimize the customer experience.
The company has offices in the U.K., the U.S. and Spain.