Bluecode collects EUR 20 million

Tuesday 4 May 2021 14:07 CET | News

Switzerland-based mobile payment provider Bluecode has announced collecting EUR 20 million in an investment round led by investment firm ‘Family Office Hopp’.

The mobile payment provider has equipped various football stadiums in Germany with Bluecode. Through these stadium expansions, Bluecode has had its features integrated into the SAP cash register system. According to a Bluecode representative, the Hopp family's portfolio fits strategically into Bluecode’s goals and their solution is now used in the SAP Arena Mannheim stadium. An SAP representative of the Hopp founder family states that ​​strengthening European payment traffic is important to the company. With Bluecode, they aim to secure contemporary data protection standards in mobile payment transactions according to European standards.

The Family Office Hopp was the investment rounds lead investor which resulted in a valuation of over EUR 100 million for Bluecode. The mobile payment provider plans to supply other stadiums with their solution. Bluecode will continue to use the One-Scan-Expand checkout and accommodate even more functions in a single scan. The company also plans to use the growth capital to expand in Austria and Germany and position itself as a technology partner for European banks and retailers. In the future, customers should be able to pay over EUR 50 contactless at more retail, catering, and hotel acceptance points. Bluecode is also expanding its payment technology in the direction of ecommerce and mcommerce.

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Keywords: investment, payment processing, mobile payments, contactless payments
Categories: Payments & Commerce | Mobile Payments
Countries: Switzerland
This article is part of category

Payments & Commerce