PayNearMe Concludes $45M Series D Funding Round

The round included many other industry players, including True Ventures, Costanoa Ventures, August Capital, DNS Capital, Invictus Management, and H. Barton Asset Management.

PayNearMe Concludes $45M Series D Funding Round

PayNearMe has today announced that it has concluded a $45 million Series D funding round, which has been led by QIC. The round included many other industry players, including True Ventures, Costanoa Ventures, August Capital, DNS Capital, Invictus Management, and H. Barton Asset Management.

PayNearMe's CEO, Danny Shader, commented:

“Our growth has continued to accelerate as we serve the needs of more and larger clients. This investment enables us to deploy additional resources to increase the rate of innovation for our clients, allowing us to support the increasing demand for frictionless payments in new and existing vertical markets by developing features that deliver value across the full payment experience.”

In September 20202, the Kansas Racing and Gaming Commission authorised PayNearMe to offer its MoneyLine platform to licenced operators in the area of Kansas. PayNearMe swelled the number of states it operated to twenty following the commission's approval.

Connor McNulty, this business' VP, Legal and Chief Compliance Officer, said:

“We have deep expertise in the industry and have worked closely with the Kansas Racing and Gaming Commission to ensure our service is compliant with all applicable statutory requirements.”