Funding Circle founder raises USD 30 mln to launch new fintech venture

Irina Ionescu

25 Apr 2022 / 5 Min Read

Samir Desai, co-founder, has secured funds from backers including Accel Partners and Local Globe to launch Super Payments, which is said to target the payments industry’s biggest names, including Mastercard and Visa, and provide an alternative for customers.

The funding was raised by Desai as a pre-money valuation of USD 60 million, gaining support from Local Globe and Union Square Ventures, which will also act as shareholders for the new venture.

No further details about the launching date were provided so far, except that Super Payments will not compete with Funding Circle. At the end of 2021, Desai stepped down as Funding Circle’s CEO, remaining a non-executive director on the board, and still owning a 4.5% stake in the company.

Countries:

United Kingdom

Irina Ionescu

25 Apr 2022 / 5 Min Read

The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.

The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.

Categories

Payments

Fraud and Fincrime

Fintech

Crypto, Web3 and CBDC

Regulations

M&A and Investments

Current themes

A2A Payments

Payment Orchestration

TradFi and DeFi Convergence

KYC, KYB and Digital Identity