Australian FinTech Till Payments announced Thursday (Oct. 7) it wrapped up a $110 million AUD ($80 million) round of Series C fundraising that it plans to use on its North American operations, global consolidation and new payments technology services.
New and existing investors in the U.S. and Australia who led the funding effort include Avenir Growth, Woodson Capital and Akuna Capital with long-term investor Regal Funds Management also part of the round along with customers around the world.
Till plans to use its new money to boost its proficiency in the U.S., the U.K., Europe and Asia-Pacific as well as hiring new employees to help it continue to craft new data-driven payment solutions.
“Payments is a rapidly growing sector globally that is still very much in its infancy,” Till Payments CEO Shadi Haddad said in the company announcement. “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.”
Till Payments “is here to deliver on that demand,” the CEO said. “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.”
The new funding will help add to Till’s sales, marketing and technology departments, said Haddad, and give a boost to its international expansion plans.
Recently, Visa expanded its Visa Installments program in Australia by teaming up with financial institution ANZ and merchant payment provider Quest on buy now, pay later (BNPL) financing plans.
The Visa Installments Solution will offer shoppers BNPL financing on existing ANZ credit cards they already use or have on their phones for online or in-store purchases.
Quest is also working with the company to allow businesses to accept Visa Installments “quickly and seamlessly” so that merchants won’t have to make any changes to their systems in order to adopt it.