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January 7, 2013 02:41 pm GMT
Paymill, the Rocket-Internet incubated online payments company that works like developer-friendlyStripeby offering users an API to quickly integrate card transactions, is today announcing that it has picked up 10 million ($13.2 million) in funding. Rocket regular Holtzbrinck Ventures participated, along with new investor Sunstone Capital, a backer of companies like Prezi and Trunk. Rocket has confirmed that this is the first time Sunstone has invested in a Rocket-backed company. The Rocket Internet spokesperson also tells me that to date, Paymill, which is active in 34 countries, has now raised funding in the region of “double digit million euros” — although, as is par for the course with many of the Samwer’s businesses, we don’t have an exact figure yet. Other investors in Paymill are Rocket Internet and RI Digital (another Rocket vehicle). Paymill says it will be using the money to further expand its footprint in Europe and elsewhere, as well as further develop its technology. “The investments by Holtzbrinck Ventures and Sunstone Capital reinforce our leading innovative position in the European online payment market and will help us to continue our rapid growth,” said Mark Henkel, CEO of Paymill, in a statement. “Especially, we will use the funds to further improve our technical platform and to enhance our customer care. Its our goal that everyone can accept online payments fast and easily.” Like Stripe, which has been described as the “Twilio of payments” because integrating the payment service into an app or site is as easy as adding a line of code — making it possible for said app or site to then accept payments using major card networks at the touch of a button — Paymill has been building its service on the back of the rapid rise of native and web apps. Its charges are similar to those of Stripe — in Paymill’s case, a per-transaction fee of 28 euro cents, plus a one-time fee of 2.95% of the transaction amount. So far the two have not butted heads in any single market since Stripe is only in the U.S. and Canada, and Paymill is strongest in Europe. That follows the pattern that the Samwer Brothers usually take — and more than once their clones have become the object of acquisitions for the originals as they look to expand with inorganic growth. It’s fair to guess that Paymill will likely follow in the footsteps of other Rocket
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/TCsVsNrUBuk/
Paymill, The Samwer Stripe Clone, Raises $13M From Serial Rocket Internet Backer Holtzbrinck Ventures And New Investor Sunstone
Paymill, the Rocket-Internet incubated online payments company that works like developer-friendlyStripeby offering users an API to quickly integrate card transactions, is today announcing that it has picked up 10 million ($13.2 million) in funding. Rocket regular Holtzbrinck Ventures participated, along with new investor Sunstone Capital, a backer of companies like Prezi and Trunk. Rocket has confirmed that this is the first time Sunstone has invested in a Rocket-backed company. The Rocket Internet spokesperson also tells me that to date, Paymill, which is active in 34 countries, has now raised funding in the region of “double digit million euros” — although, as is par for the course with many of the Samwer’s businesses, we don’t have an exact figure yet. Other investors in Paymill are Rocket Internet and RI Digital (another Rocket vehicle). Paymill says it will be using the money to further expand its footprint in Europe and elsewhere, as well as further develop its technology. “The investments by Holtzbrinck Ventures and Sunstone Capital reinforce our leading innovative position in the European online payment market and will help us to continue our rapid growth,” said Mark Henkel, CEO of Paymill, in a statement. “Especially, we will use the funds to further improve our technical platform and to enhance our customer care. Its our goal that everyone can accept online payments fast and easily.” Like Stripe, which has been described as the “Twilio of payments” because integrating the payment service into an app or site is as easy as adding a line of code — making it possible for said app or site to then accept payments using major card networks at the touch of a button — Paymill has been building its service on the back of the rapid rise of native and web apps. Its charges are similar to those of Stripe — in Paymill’s case, a per-transaction fee of 28 euro cents, plus a one-time fee of 2.95% of the transaction amount. So far the two have not butted heads in any single market since Stripe is only in the U.S. and Canada, and Paymill is strongest in Europe. That follows the pattern that the Samwer Brothers usually take — and more than once their clones have become the object of acquisitions for the originals as they look to expand with inorganic growth. It’s fair to guess that Paymill will likely follow in the footsteps of other RocketOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/TCsVsNrUBuk/
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