To be mainly used for expanding into new markets across Asia, Europe and South America, grow its talent base, and invest in product and partner development as it executes its vision to become the operating system (OS) on smart payment terminals worldwide, USA based Poynt is set to raise $100 million Series C raise from Australia based National Australia Bank and USA based Elavon. Poynt aims to globally transform commerce with open OS for any smart payment terminal.
Poynt is based on Android; it is hardware-agnostic and seamlessly plugs into new and legacy retail software systems, allowing merchants to extend their capabilities with third party and custom apps.
According to Osama Bedier, founder and CEO of Poynt:
“Smartphones changed the way we search, buy and communicate — not only because the hardware was beautiful, but because iOS and Android transformed a ubiquitous utility into a platform for innovation where developers could build once and distribute everywhere. Our vision is to transform retail by becoming that innovation platform for payment terminals everywhere. We give developers a technical canvas to build the experiences merchants and their customers have come to expect – and ultimately, make visiting your local store the personal experience it was always meant to be.”
Poynt has experienced rapid growth in the past 16 months shipping nearly 150000 terminals with nearly 30 million consumers’ transaction and total payment volume is expected to exceed $25 billion over the next 12 months.
Founded in 2013, Poynt is a connected commerce platform empowering merchants with the technology to transform their businesses. Headquartered in the USA, Poynt offers Poynt Smart Terminal, a payment terminal with basic register functionality built-in that runs PoyntOS, which allows developers to bring tools and technology for merchants to manage every facet of their business. Poynt also provides Poynt 5, an enterprise-grade mobile solution that enables payment in any environment, such as festivals, conferences, or outside of store.
Founded in 1991, Elavon is wholly owned by U.S. Bank, the fifth-largest bank in the United States, and provides end-to-end payment processing solutions and services to more than 1.3 million customers in the United States, Europe, Canada, Mexico and Puerto Rico. Headquartered in the US, Elavon offers reseller and referral programs that include merchant processing services for financial institutions; payment processing services for MSPs/ISOs; and customer relationship management services. Elavon employs around 1400 employees around the globe.
Founded in 1834, National Australia Bank has more than 30,000 people serving nine million customers at more than 900 locations in Australia, New Zealand and around the world. the largest bank in Australia, NAB operates through Consumer Banking and Wealth, Business and Private Banking, Corporate and Institutional Banking, and New Zealand Banking segments. NAB is headquartered in Australia.