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

Monday 25 April 2022 08:11 CET | News

One of Funding Circle’s co-founders, a UK-based fintech has raised USD 30 million from blue-chip investors to create a new payments startup, Super Payments.

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. 

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Keywords: startup, online payments, payments , funding, crowdfunding, payment processor, fintech
Categories: Payments & Commerce
Companies: Funding Circle, Mastercard, Visa
Countries: United Kingdom
This article is part of category

Payments & Commerce

Funding Circle





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