Almost a year ago to the day, we featured Zooz CEO Oren Levy as part of our CEO interview series.
Today, we learn that the e-commerce payments innovator has announced a new $12 million investment, courtesy of a funding round led by Blumberg Capital. Zooz’s total capital now stands at more than $30 million.
Existing investors participating in the round were lool ventures, Rhodium, and XSeed Capital. New investors included Access Industries and Camp One Ventures. Zooz plans to use the new capital to further develop its technology, as well as to support the company’s growth as it looks to add new offices and scale up operations.
Speaking of the funding, Zooz CEO Oren Levy pointed to the challenges of “globalization, omni-channel retail, and coordination between multiple financial institutions” to help explain his company’s mission – and its attractiveness to investors. By providing retailers with greater payment flexibility, Zooz helps businesses grow revenues, gain new customers, and participate in new markets.
Blumberg Capital’s Alon Lifshitz added:
“There is clearly a need for an advanced payment technology that can help businesses stay ahead of their competition through optimization and technology differentiation, and that is where Zooz excels.”
Zooz enables enterprise-class retailers to optimize their payment process through a broad network of acquirers and payment methods. Zooz helps companies access these acquirers and methods, as well as making it easy for new acquirers and methods to be added and integrated into the network. The company’s Smart Routing solution allows retailers to achieve and provide a consistent, cross-channel payment experience for both sides of the transaction.
Zooz was founded in 2010. The company made its Finovate debut at FinovateFall 2013, showing its Global Payments Platform.