Phos raises EUR 1.3 mln in funding round

Wednesday 8 April 2020 14:06 CET | News

Phos, an UK-based fintech that offers a software-only POS, has raised EUR 1.3 million in funding led by New Vision 3.

It brings the total raised by Phos to date to EUR 2.5 million. According to TechCrunch, the money will be used to grow the development team.

The product will have new features, such as ‘PIN on Phone’, a Software Development Kit (SDK), and a new integrated loyalty system.

Founded in 2018, Phos has developed software that turns any NFC-equipped Android device into a payment’s terminal, negating the need for additional hardware.

In terms of go-to-market, Phos is focused on a B2B model, working with partners to distribute the product, such as banks, acquirers, PSPs/ISOs, large direct merchants, and platform players.

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Keywords: Phos, UK, fintech, software, POS, smartphone, New Vision 3, PIN, SDK, NFC, Android, payments , B2B, banks, PSPs, ISOs, merchants
Categories: Payments & Commerce
Countries: United Kingdom
This article is part of category

Payments & Commerce