KodyPay has raised GBP 1.8 million in a seed round in a bid to boost the payments industry.
Leading the financing was Cognition Foundry and Hank Uberoi, alongside a group of high-profile private investors. These include former members of senior management from Legal and General, Verifone and HP.
KodyPay is a new mobile point of sale app and payment aggregator. Its technology allows users to pay for goods in store without queueing.
By working with IBM partners TES Enterprise Solutions and Cognition Foundry, the platform will be running on the IBM Z Systems. The company has also entered into a partnership with Cybersource, a Visa Solution. With their support, KodyPay has built a wholly modular payment stack. This will allow merchants to work with their preferred payment method efficiently.
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