Reach secures $30m investment

Global e-commerce payments company Reach has secured a $30 million investment.

The round was led by Vistara Growth and includes investment from Bluesky Equities, Tribune Capital, and Rising Tide.

Reach said the money will be spent to “dramatically” scale up its development teams, with a focus on merchant success and onboarding. It will also be used for expansion into new markets.

“E-commerce giants, such as Apple, Amazon, Netflix, & Spotify to name a few, have the resources to open operations in every new market to set up local processing, have large treasury teams dedicated to managing currency risk, and heavyweight legal teams to comply with every country’s regulations and tax structures,” said Sam Ranieri, chief executive, Reach. “The vast majority of businesses do not, thus creating a large competitive disadvantage.

“Our unique platform allows companies to leverage our vast entity and banking network, unlocking the true power of local currency and local payment processing while eliminating the complexity, cost, time, and risk to set up directly.

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