Citcon Raises $30M in Series C Funding


Citcon, a San Jose, Calif.-based mobile wallet payment provider enabling global commerce at scale, raised $30m in Series C financing.

The round was led by Norwest Venture Partners and Cota Capital with participation from Sierra Ventures and Sonae IM.

The company intends to use the funds for the addition of staff and global expansion.

Led by Chuck Huang, CEO and founder, Citcon provides a global enterprise payments gateway that allows merchants to participate in global commerce by enabling secure online or in-store transactions with more than 100 different payment methods, including mobile wallets, local payment schemes, and traditional credit cards — all through one single integration and reconciliation platform. The solution integrates a variety of globally popular digital wallet brands including PayPal, Venmo, AliPay, WeChat Pay, as well as buy now pay later services, cryptocurrency, and more.

Its payment solutions are currently deployed at more than 30,000 merchants’ sites and locations, including world-renowned brands such as L’Oreal, Tumi, Texas Instruments, Revolve, Macy’s, and Panda Express. Citcon’s annualized payment volume is more than $1 billion.

The company has five regional offices in the US, Canada, Europe, and Asia to service its global clientele.