Payleven, Mobile Payment Startup raises $10 Million


PayLeven, German Mobile Payment Startup which was started in 2012 has raised $10 million as a growth round from a few existing investors. The investors in the new round include Holtzbrinck Ventures, ru-Net, B Cinque, New Enterprise Associates (NEA) and MePay. The one new addition to the list is Seventure Partners.

Payleven makes point of sale hardware which are compatible with Android and iOS smartphones and tablets. This is centered to small and medium merchants who accept payments on the go. It faces competition from a lot of local as well as global players, however, the portability might just work in the favor of Payleven in the long run.

The startup is currently present in 11 European markets and Brazil. With the latest round, it plans to expand to more markets. Till date, the startup has raised $51 million in funding, however, the valuation has never been disclosed.