Payworks Completes $14.5 Million Series B Round

Point of sale (POS) technology company Payworks has reeled in its second round of funding. The Germany-based company closed a $14.5 million round from CommerzVentures and Visa, with contributions from existing investors Speedinvest and Finparx. Today’s financing brings Payworks’ total funding to $19 million.

Explaining the firm’s reasoning behind the funding, Stefan Tirtey, Managing Partner of CommerzVentures said that it “invests in founders with a passion for innovation and proven ability to execute.” He added, “We back businesses that can have a significant impact on the financial services industry. We believe that Payworks has both, a great team, and an offering that can have real impact in the fast-changing world of card payments.”

Payworks will use today’s financing to fulfill demand for its solutions and fuel global growth, scale operations, and focus on increasing R&D and product teams across its offices in Munich, New York, London, and Barcelona. In the press release, Christian Deger, Payworks founder and CEO said, “We are on a great mission to build a new operating system for the Point of Sale and are very excited to have CommerzVentures and Visa join us on that journey. With the additional funding we are fully equipped to further develop our technology and product and support the demand coming from leading payment players looking to modernize their solutions.”

Founded in 2012, Payworks focuses on POS technology. The company’s payment gateway technology, Pulse, is a set of SDKs and APIs that remotely update card readers and set up in a couple of minutes to make developers and their merchants EMV certified, PCI compliant and P2PE ready. The company’s partners include First Data, TSYS, Stripe, and American Express. Additional products include Accept, a white-label mPOS solution for merchants, and Engage, a customer data and CRM platform.

At FinovateEurope 2015, the company’s CEO Christian Deger demonstrated how Payworks builds payment solutions and checkout options. Late last year, the company extended its partnership with Verifone, integrating the Verifone e355 mPOS and the VX 820 onto the Payworks platform.

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Payworks Raises $4.5 Million Series A

payworks_homepage_September2016

Just a few days after launching its next-generation payment-gateway, Pulse, Payworks announced a $4.5 million Series A. The round was led by HW Capital and Rumford, and featured the participation of “leading U.S. and European payment executives” as well as existing investor, Speedinvest. The funding will help accelerate the Munich, Germany-based company’s continued expansion into Europe and North America.

“We are extremely happy on having closed our Series A with a great group of investors,” said Christian Deger, Payworks CEO and co-founder. “With their support, we will make Pulse available to even more merchants worldwide and establish our position in the market as a leading payment-gateway technology company.”

Nikolaus von Taysen, a partner at Rumford, had high praise for the German SaaS payment-gateway company, and called Payworks “one of the very few companies that has a shot at replacing an old and outdated infrastructure on a global scale.”

payworks_stage_FEU2014b

CEO Christian Deger demonstrated the Payworks’ platform at FinvoateEurope 2014.

Payworks gives payment processors an alternative to the costly, inefficient, inflexible, and often poorly secured legacy systems still widely in use to process credit card payments. With Pulse, the company’s lightweight, next-generation, SaaS payment-processing platform, Payworks empowers smaller processors to keep up with the larger processors in the payment business. CEO and co-founder Christian Deger called the solution a “very important milestone for our company,” noting the technology provides fast, API-based, EMV, contactless card, mobile wallet, and chip and payment processing for both fixed and mobile point-of-sale systems.

Headquartered in Munich, Germany, and founded in 2012, Payworks demonstrated its platform at FinovateEurope 2014. Winner of the MPE Award for most innovative payment startup, the company is active in more than 15 countries, and its payment provider clients serve hundreds of thousands of merchants in a number of different industries.

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Payworks Unveils Next Generation Payment Gateway, Pulse

Payworks_Pulse_homepage_August2016

Munich, Germany-based Payworks has launched its next generation payment gateway technology, Pulse. The solution makes it easier for developers to integrate card readers into both stationary and mobile point-of-sale systems, improving and simplifying in-person card payments for consumers.

“The official launch of Pulse is a very important milestone for our company,” Payworks CEO and co-founder Christian Deger said. “Pulse will create fantastic opportunities for our partners and clients, both technically as well as commercially.” The Pulse launch is the culmination of Payworks’ corporate rebranding, including a new logo that “represents the openness and flexibility of the Pulse technology.”

Payworks_stage_FEU2014

CEO Christian Deger and Head of Sales Michael Englmaier demonstrated the payworks platform at FinovateEurope 2014 in London.

Pulse-powered payment technologies will enable customers to take advantage of a wide variety of payment technologies including EMV chip & PIN cards, contactless cards, and mobile wallets. The cloud-based payment-processing platform comes pre-certified for both developers and merchants, and scales well for both large and small businesses. In addition to Pulse, Payworks is offering its white-labeled mPOS solution, Accept, geared specifically for payment providers looking for an acceptance solution for SMEs, and Engage, an analytics and customer engagement platform.

Founded in 2012 and headquartered in Munich, Germany, Payworks demonstrated its platform at FinovateEurope 2014. The company includes Speedinvest and Barikuta Partners among its investors, and has offices in the U.K., the U.S., and Spain. Payworks has partnered with some of the world’s largest payment processors including Barclaycard, Stripe, and Elavon. Earlier this month, Payworks announced a partnership with U.S. ticketing systems specialist, VBO Tickets. In July, the company teamed up with Swedish POS specialist, AffärsIT to bring Windows-based point-of sale technology to 5,000 merchants in Scandinavia, just one month after Payworks extended its Stripe POS integration.

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