In a significant move for the European payments landscape, PayPal Ventures has joined a $12 million funding round for Amsterdam-based firm Klearly. This investment marks a pivotal moment for the company as it seeks to enhance its market presence. The source reports that this funding will be used to expand their services and reach a broader audience.
Funding Round Details
The funding round, completed on Tuesday, saw participation from notable investors including:
- the Italian Founders Fund
- Global PayTech Ventures
- Antler Elevate
- Shapers
With this latest injection of capital, Klearly's total funding has now reached $20 million, underscoring strong investor confidence in its business model.
Expansion Plans
Klearly currently supports over 4,000 merchants on its payment processing platform. The company plans to utilize the new funds to expand its operations into:
- Italy
- Belgium
Aiming to capture a larger share of the European market, this strategic expansion is expected to enhance its service offerings and increase its merchant base significantly.
GainX previously announced its plans to revolutionize global payments with a focus on sustainable QR-based transactions. For more details, see the full article here.
