According to a report released by GrowthPraxis today, Venture capitalists and strategic investors (such as banks) have together invested more than $3,500 Million in more than 110 payment companies. Based on rigorous analysis done globally, the report found out the following:
Some of the largest strategic investors in payment firms were:
American Express, Bank of NZ, Citi Group Ventures, Bank of Amercia, RBS, Starbucks
If you take the strategic investors as well as VCs, the total funding/investment: USD 3,500 mn +
Funding in US: USD 2500 mn +
Funding in Europe & Asia: USD 1,000 mn +
Funding by VCs covered in this report: USD 1,425 mn +
No. of VCs covered in the report: More than 100
Portfolio Companies (illustrative) of VCs who invested the most:
1. Venture capital funding in the payments sector went up globally in recent years. According to this study by GrowthPraxis the funding amounted to more than $1425 Mn in 110+ companies. The global volume of non-cash payments grew rapidly to reach $307 billion in the year 2012, encouraging investors
2. Strategic investors such as the Banks and retailers are highly interested in tapping this growth and embrace the innovation. Some of the largest funding deals came from Bank of New Zealand and Citiback Ventures
3. Segments that received highest amount of funding were Mobile Card Readers, Mobile Wallet & Cash based Payment Platforms (like pay near me)
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