Australian payments disruptor, Till Payments (Till) has closed its Series C funding round, raising $110 million in private capital. The funding will be used to strengthen local capabilities and global expansion, while further innovating its technology.
The funding was raised from new and existing investors based in Australia and the US, including Avenir Growth, Woodson Capital, and Akuna Capital. Long-term investor, Australian-based Regal Funds Management, also participated in the round, in addition to customers with first-hand experience.
Till will use the funding to broaden its reach in international markets, including New Zealand, Europe, the UK and the US. In addition to fueling global expansion, the investment is set to strengthen Till’s local team and capabilities and accelerate its development towards a simple data-driven payment solution.
There is enormous opportunity in the payments sector, with approximately $670 billion worth of payments made in Australia every day, Till Payments CEO, Shadi Haddad said.
“Payments is a rapidly growing sector globally that is still very much in its infancy. The widespread disruption that has been experienced in the past year or so has urged businesses to call for a revolution in payments – one that’s simple, seamless and considers every consumer touch and data point during the payment experience,” he said.
“Till is here to deliver on that demand. We have evolved through the complex value-chain to become an all-in-one payments provider that is working tirelessly to ensure our products and services not only meet and exceed our customers’ needs, but also provide forward-looking innovations that put them ahead of their competitors.
“This latest funding round will inject resources into our sales, marketing, technology and talent funnel and put us on the front foot as we double down on our international expansion efforts with regional teams.”