Poynt Raises $100 Million in Funding for Its Smart Payment Terminal

In a significant development for the fintech industry, Poynt, a developer of smart payment terminals and an open operating system that powers any payment terminal worldwide, has secured $100 million in Series C funding. The investment was led by Elavon, a U.S.-based payment processing company owned by National Australia Bank.

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A Brief History of Poynt

Poynt was launched in 2014 by Osama Bedier, the former vice president of Wallet and Payments at Google. Prior to joining Google in 2011, Bedier had been the head of platform, mobile, and new ventures at PayPal. Under his leadership, Poynt has brought in a total of $133 million from notable backers such as Google Ventures, Matrix Partners, Oak HC/FT, Webb Investment Network, and Nyca Partners.

Accelerated Growth

In just four years, Poynt has achieved remarkable growth, with over 150,000 terminals shipped in the last 16 months alone. The company claims that total payment volume will exceed $25 billion in the next year. This impressive feat is a testament to the potential of Poynt’s innovative technology.

A Vision for the Future

According to Bedier, "Our vision is to transform retail by becoming that innovation platform for payment terminals everywhere." He further explained, "We give developers a technical canvas to build the experiences merchants and their customers have come to expect and ultimately, make visiting your local store the personal experience it was always meant to be."

Expansion Plans

With the $100 million investment, Poynt plans to expand its technology to new markets, including Asia, Europe, and South America. This strategic move will enable the company to tap into emerging markets and further establish itself as a leader in the fintech industry.

Key Takeaways

Poynt has secured $100 million in Series C funding from Elavon and National Australia Bank.
The investment brings the total amount of funding raised by Poynt to $133 million.
The company plans to expand its technology to Asia, Europe, and South America.

The Future of Fintech

Poynt’s innovative approach to payment processing has the potential to revolutionize the retail industry. As the fintech sector continues to grow, it will be exciting to see how Poynt’s technology evolves and impacts the market.

About the Author

Kate Clark is a writer at TechCrunch, covering venture capital and startups. With her in-depth knowledge of the fintech industry, she provides insightful commentary on emerging trends and innovations.