Poynt, a Palo Alto, CA-based provider of a connected commerce platform, raised $100m in Series C funding.
Backers included Elavon and National Australia Bank (NAB).
The company intends to use the funds to expand into new markets across Asia, Europe and South America, grow its talent base, and invest in product and partner development.
Led by Osama Bedier, founder and CEO, Poynt OS is an open operating system that can power any smart payment terminal worldwide, creating a new app economy for merchants and allowing developers to write once and distribute everywhere. Based on Android, the OS is hardware-agnostic and plugs into new and legacy retail software systems, allowing merchants to extend their capabilities with third party and custom apps.
Nearly 30 million consumers have transacted on a Poynt terminal, and total payment volume is expected to exceed $25 billion over the next 12 months. The company has signed partnerships with leading global banks including Elavon (U.S. Bank), Evertec, Worldpay, J.P. Morgan Chase, Itau Unibanco, Alipay, Nexi, EVO, and Mashreq Bank.
Today, approximately 8,000 developers build on Poynt, including Boomtown, Homebase, MindBody, Talech and TruRating.
The company, which has international headquarters in Singapore, expects Poynt OS adoption on at least half of the world’s top payment terminal manufacturers in 2019.