Introduction
Poynt, a Palo Alto-based company that specializes in developing smart payment terminals and an open operating system that powers any payment terminal worldwide, has announced the completion of its $100 million Series C funding round. This investment was led by Elavon, a U.S.-based Bank-owned payment processing company, and National Australia Bank (NAB). The funding will enable Poynt to further expand its operations and bring its innovative technology to new markets.
Poynt’s History and Milestones
Poynt was founded in 2014 by Osama Bedier, a veteran of the fintech industry. Prior to launching Poynt, Bedier held various leadership positions at Google and PayPal. Under his guidance, Poynt has rapidly gained traction and raised over $133 million from prominent investors such as Google Ventures, Matrix Partners, Oak HC/FT, Webb Investment Network, and Nyca Partners.
Key Milestones:
- 2014: Poynt was founded by Osama Bedier
- 2011: Bedier joined Google as the Vice President of Wallet and Payments
- $133 million: Total funding raised from prominent investors
- 150,000 terminals: Number of units shipped in the last 16 months
Poynt’s Vision for a Smart Payment Ecosystem
According to Poynt’s CEO, Osama Bedier, the company aims to transform retail by becoming the innovation platform for payment terminals worldwide. Poynt’s open operating system provides developers with a technical canvas to build experiences that merchants and their customers have come to expect.
Poynt’s Goals:
- Transform Retail: Become the innovation platform for payment terminals
- Innovate Experiences: Provide a technical canvas for developers
- Personalized Experience: Make visiting local stores a personalized experience
Expansion Plans with the New Funding
The $100 million Series C funding will enable Poynt to expand its technology to new markets, including Asia, Europe, and South America.
Expansion Objectives:
- Global Expansion: Bring smart payment terminals to new regions
- Market Penetration: Increase market share in target markets
The Future of Payment Terminals with Poynt
Poynt’s innovative approach to payment terminals has the potential to revolutionize the retail industry. With its open operating system and focus on innovation, the company is well-positioned to become a leader in the fintech space.
Conclusion:
Poynt’s $100 million Series C funding round is a significant milestone for the company, which plans to use the investment to expand its operations and bring its innovative technology to new markets. With its experienced leadership team and strong investor backing, Poynt is poised to transform the retail industry with its smart payment terminals.
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