NEW YORK--(BUSINESS WIRE)--Fintech payments disruptor, Till Payments (Till), has closed its Series C funding round, raising $110 million Australian dollars in private capital, equivalent to approximately $80 million USD. The funding will be used to strengthen Till’s operational capabilities in North America, bolster global consolidation, and further innovate its cutting-edge payments technology.
The funding was raised from new and existing investors based in the U.S. and Australia, including Avenir Growth, Woodson Capital, and Akuna Capital. Long-term investor, Australian-based Regal Funds Management, also participated in the round, recognizing the success of its earlier investments. Local U.S. & global customers with first-hand experience of Till’s unique service proposition and exceptional customer service also invested, a testament to the long-term value and growth in Till’s offering.
Till will use the funding to deepen its capabilities in the United States, building on the local team of industry experts to broaden its solution capabilities in North America and other international markets, including, the United Kingdom, Europe and APAC. In addition to fuelling the company’s global expansion efforts, the investment is set to strengthen Till’s local team and capabilities and accelerate its technology innovation and development efforts towards a simple data-driven payment solution.
In the U.S., Till has appointed seasoned payment industry veteran Tom Tucker as Regional Director to spearhead their expansion initiatives. He is supported by Tom Humphrey as Head of Compliance and Risk.
Shadi Haddad, CEO of Till Payments, said there was enormous opportunity in the payments sector, with approximately $8 trillion worth of payments made in North America annually1, and this capital injection will help Till remain at the fore of this burgeoning industry.
“Payments is a rapidly growing sector globally that is still very much in its infancy. The widespread disruption that has been experienced in the past year or so has urged businesses to call for a revolution in payments – one that’s simple, seamless and considers every consumer touch and data point during the payment experience,” Mr Haddad said.
“Till is here to deliver on that demand. We have evolved through the complex value-chain to become an all-in-one payments provider that is working tirelessly to ensure our products and services not only meet and exceed our customers’ needs, but also provide forward-looking innovations that put them ahead of their competitors.
“This latest funding round will inject resources into our sales, marketing, technology and talent funnel and put us on the front foot as we double down on our international expansion efforts with regional teams. We’re committed to our mission of being an enabler for our customers, our partners and our people all around the world, and this significant milestone will help us accelerate our growth trajectory.”
Till is a high-growth, global fintech disruptor taking the complexity out of payments with single-source solutions that ensure merchants can accept any payment wherever and whenever their customers shop. The Series C funding follows successful raises in 2019 and 2020, bringing the company’s total investment pool to $145 million AUD, or approximately $105 million USD.
Partner at Avenir Growth Capital, Jamie Reynolds, commented: "Till is uniquely positioned to be a market leader in the global payments industry with its world-class omni-channel payments platform and merchant-centric approach. We are excited to partner with Till to support their sustainable long-term growth in both the Australian and international markets.”
The business is supported by a well credentialed executive team including Chief Financial Officer Peter Slater, former Divisional CFO of Mastercard; Chief Revenue Officer, Chris Hicks, Till co-founder and former Regional Head of First Data (now FiServ); Chief Operating Officer, Shadi Haddad, former Group General Manager at Bingo Industries; and Fady Daher former GM; VP Global Commercial at American Express.
About Till Payments
Till is the fast-moving, Aussie-born, global fintech disruptor creating a world of possibilities for businesses seeking simple, seamless, all-in-one payments solutions. We take the complexity out of getting paid with single-source solutions that ensure merchants can accept any payment wherever and whenever their customers shop, be it online, in-store, or a combination of both.
Organisations across a range of sectors, including FMCG, automotive, parking & transit, retail and hospitality, use our end-to-end smart and seamless payments experiences to support growth and enhance customer experiences.
Founded in 2012, Till’s team of 125 staff is rapidly growing and headquartered in Australia, with teams in London, Manila and across the US. Till currently serves hundreds of merchants across 12 countries and over 500 cities. For more information about Till Payments, head to: www.tillpayments.com
1 Source (US): US Federal Reserve - The 2019 Federal Reserve Payments Study (2019 study) – Nilson Report Issue 1185
Notes: 3. Includes the total value of transactions acquired in the EEA for credit and charge cards, and debit cards and the total value of transactions for prepaid cards. 4.Includes the total value of transactions acquired in United States of America for credit and charge cards, and debit cards and the total value of transactions for prepaid cards.