SimplePay, a Sydney, Australia-based electronic payments company, secured $5m in initial funding.
Backers included Fluce Capital and Versatile Group.
The company intends to use the funds to continue to increase its coverage to over 40,000 locations within the next 24 months, enabling a stronger entrance into the EMEA, GCC and Asian markets.
Led by Founder Shadi Haddad and Chris Hicks, CEO, SimplePay provides clear customer-centric payment experiences across all channels providing insights to government and private operators in the Parking, Transit, Specialty Retail & Hospitality industries.
Its cloud-based payments platform reduces the need for consumers to repeatedly present payment instruments and identity documentation at each step in their journey. The technology is capable of providing deep data insight to government and for managing a cities infrastructure across multi payment journeys – private parking, transit and hospitality (hotel) operators connected into existing ticketing hardware and booking engines.
The company serves government and private operators in Australia, New Zealand, Europe & America.
Since 2012, SimplePay has connected more than 14,000 locations onto its Smart City infrastructure.