PayNearMe Secures $45M in QIC-led Series D Round

PayNearMe, a modern and reliable billing and payments platform, has secured $45 million in its latest funding round. The Series D funding was led by Queensland Investment Corporation and attracted other notable supporters, such as August Capital, DNS Capital, Costanoa Ventures, H Barton Asset Management, Invicta Management and True Ventures.

The money will help PayNearMe bolster its growth and expand its business. Thanks to the funding, the company will be able to enhance its payments platform, making it more beneficial and convenient to clients.

PayNearMe allows its clients to create customized payment experiences for their clients. It offers frictionless payments that generate value for its partners, helping them attract more customers. The payments provider covers a huge selection of payment types, such as Apple Pay, Google Pay, PayPal, credit and debit cards, ACH and Venmo. It also sports a reliable cash network, allowing customers to pay in cash.

PayNearMe’s payments are accepted in over 40,000 retail shops across the United States, with some of its customers including notable brands such as Walmart and 7-Eleven. At the beginning of this month, PayNearMe’s solutions were also adopted by Maverick Gaming.

Payment Data Is an Emerging Opportunity for Businesses

Danny Shader, the founder and chief executive officer of PayNearMe, commented on his company’s growth, praising the progress his team has been recording. He said that the new investment is another opportunity for his company to deploy extra resources and increase its rate of innovation.

And this allows us to support the increasing demand for frictionless payments in new and existing vertical markets by developing features that deliver value across the full payment experience.

Danny Shader, founder & CEO, PayNearMe

Matt Diestel, QIC partner, also shared his thoughts on the matter, saying that his team has been impressed with PayNearMe’s performance and success. He noted that payments data is “the next emerging opportunity for businesses.”

PayNearMe is enabling its clients to access that data and leverage it as a strategic asset. The company’s innovation is extremely powerful and will, no doubt, transform the payments industry.

Matt Diestel, partner, QIC

QIC is a leading Australian institutional investment manager that excels in alternative investment solutions in many sectors. It also boasts of being the independent investment adviser of the Queensland Government.

Last year, PayNearMe was cleared to launch in the state of Kansas, allowing it to further bolster its US footprint.