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Mobile Payments Company Raises $80 Million More

Powa Technologies, a British mobile payments and e-commerce company, recently raised $80 Mn from Wellington Management, a public markets investor in a Series C funding round. Wellington had also invested $76 million in Powa last year in the Series A round. Powa will be using the fresh funds to promote its U.S. launch during the holiday season and attract merchants to adopt its platform for selling. Powa wishes to compete against other established players like Square, Shopify, Big Commerce and others. Powa is moving into the U.S. market at a time when Wal-Mart, Target and other merchants under the MCX consortium are building their own payments platform. Moreover Google Wallet, Apple Pay, PayPal and numerous startups are trying hard to gain a higher position in the growing mobile payments space.

Read the whole story at Let's Talk Payments »

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