Zooz Closes $12 Million Round of Investment
Smart payment technology provider Zooz is looking to grow its platform, as the company announced that it has closed a $12 million round of investment.
The round was led by Blumberg Capital, with participation from new investors Access Industries and Camp One Ventures, as well as existing investors including XSeed Capital, lool ventures and Rhodium. Zooz is expected to use the funding to scale up operations, continue creating new technology and open new offices.
“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,” said Alon Lifshitz, partner at Blumberg Capital, who will be joining Zooz as a board member. “We have been very impressed by their innovations and rapid growth in the global payments market.”
The Zooz platform enhances the existing payment infrastructure of enterprise retailers by providing competitive rates and enabling retailers to accept payments both efficiently and flexibly across online and in-store channels. Moreover, Zooz’s Smart Routing solution gives retailers the flexibility to route between multiple acquirers, eWallets and currencies to optimize costs and acceptance rates. It is also important to note that when a customer payment is made over Zooz’s platform, the payment details are stored securely so that future payments made through different channels can be linked to the original customer. This provides retailers with insights that can be leveraged to create more personalized experiences for consumers.
“We appreciate the confidence of our investors, both new and old, as we continue to forge our leadership position in this developing industry,” said Oren Levy, CEO of Zooz. “This round demonstrates that there is a recognized market need for payment platforms that can help retailers navigate the challenges associated with globalization, omni-channel retail, and coordination between multiple financial institutions.”