PayKey secures $10m funding
Written by Chris Lemmon
Israeli-based startup PayKey has secured $10 million in a funding round led by MizMaa, with other investors including SBI Group, Siam Commercial Bank’s FinTech subsidiary Digital Ventures, SixThirty and FinTech71.
PayKey enables customers to make secure peer-to-peer payments on all social network mobile platforms such as Facebook’s Messenger, WhatsApp and Twitter. The technology used enables banks to support the payments where consumers want them most.
The latest funding follows a $6 million Series A investment in 2016, co-led by e.ventures and Gaby Salem of Wharton Asset Management, with investments from new investors, including CommerzVentures, Mastercard and Santander InnoVentures.
At the time, Daniel Peled, CEO of PayKey, said: “As consumers become increasingly comfortable conducting financial transactions on mobile through social apps, it’s essential for banks to offer services that cater to these changing behaviour patterns in an easy to use, secure way. This new funding will allow us to further develop our offering and expand our market reach globally.”