Brisbane-based fintech FIN-PAY has today bagged $10 million in seed funding, with the capital to facilitate the payment platform’s growth at home and abroad.
Founded by 2021 Brisbane Young Entrepreneur of the Year Awards Finalists Ian Parke and James Pound, FIN-PAY provides small, mid-market and enterprise clients with fast payment technology that allows unified payments across cards, QR, digital currencies, SMS and buy-now pay-later (BNPL).
The company is already generating revenues in Australia and the Middles East, and now plans to launch in the Asia-Pacific and Europe in the next 12 months, and Latin America and North America in 2022.
“This year has seen a lot of investment activity in the fintech sector, but unlocking real revenues and growth at scale requires technology that enables, rather than loudly boasting of disruption,” co-founder and CEO Parke said.
“Our sophisticated patented technology is easily adopted by merchants, and enables both merchants and consumers choice over the way they make and receive payments.
“This seed capital will support ongoing product development as well as accelerate FIN-PAY’s already-growing global presence.”
One of FIN-PAY’s investors, Steve Aliferis, co-founder and CEO of Great Partnerships, Exceptional Delivery (gPED), said he hopes to support the FIN-PAY team with its global expansion plans.
“The payments market has already seen a significant shift in consumer purchase behaviour. Spurred on by the pandemic, consumers are now much more comfortable using tech in ways that they previously hadn’t – and we are seeing this with the accelerated adoption of payment technology, such as QR codes,” Aliferis said.
“There’s something in the water in Australia at the moment, with tech innovation thriving down under, and FIN-PAY is part of this trend. gPED sees this as a significant strategic partnership.
“We’re committed to supporting FIN-PAY to provide world-class solutions that create better payment moments for consumers, whilst at the same time allowing merchants to build stronger revenue streams and increase efficiency.”
The FIN-PAY app is now available to retailers in pre-release, with full mark
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