Zeller raises USD 19.4 mln Series A funding round

Tuesday 16 March 2021 12:04 CET | News

Zeller, a payment and financial services startup founded by former Square executives, has raised a USD 19.4 million Series A funding round.

According to TechCrunch, although the company has raised the funds in 2020, they didn't reveal it until 15 March 2021. The funding was led by Addition, the investment firm founded by former Tiger Global partner Lee Fixel, and included participation from returning investors Square Peg and Apex Capital. 

The company stated this is one of Australia’s largest pre-launch Series A rounds ever. Moreover, the funding will be used to expand Zeller’s product development and engineering capabilities, marketing and sales, and customer support teams as it prepares for its launch. However, a date hasn’t been set yet.

Overall, Zeller will offer a fully integrated payments and financial services solution designed for SMEs that currently rely on multiple providers for their payment terminals, point-of-sale systems, ecommerce payments, transaction accounts, and credit cards. 

Zeller’s software is combined with a payment terminal, transaction account and business Mastercard, and is intended to make it easier for businesses to accept and send payments, access funds, and manage their finances. Besides, Zeller will have no lock-in contracts and one low fee for card payments, TechCrunch reported.

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Keywords: funding, SMEs, contactless payments, online payments
Categories: Payments & Commerce
Countries: World
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