UK-based Merchant Services Platform Pollinate Goes Live After Receiving £60 Million in Funding from Mastercard, RBS, Others

London-based Pollinate, a company that offers a merchant services platform, has reportedly launched after receiving £60 million (appr. $77.6 million) in investments.

The company’s financial backers included EFM Asset Management, Mastercard, Motive Partners, and the Royal Bank of Scotland (RBS).

Founded in 2017, Pollinate provides a cloud-based services platform that allows merchants to onboard customers, create e-commerce portals and offer loyalty programs, without having to perform migrations. 

With Pollinate’s platform, merchants are able to run their operations more effectively as the company provides helpful digital tools and data integrations. These software tools help businesses expand their operations by connecting with their consumers. 

Pollinate also assists financial institutions in building relationships with their clients.

The first deployment of Pollinate’s cloud-based system took place earlier this year with the introduction of the Tyl by NatWest merchant services business in the United Kingdom. Pollinate’s management is now discussing potential partnerships with other retail banks throughout the world.

Pollinate’s new platform is accessible globally via the Azure cloud. The company’s platform utilizes Microsoft’s Big Data and distributed artificial intelligence (AI) platforms. It also uses various threat Intelligence and authentication services. 

Pollinate’s business partners include Mastercard, Endava, Motive Partners and EFM.

Pollinate is led by a team of experienced executives from the payments, technology and loyalty sectors including the firm’s founder and CEO Alastair Lukies CBE, co-founder and COO Jonathan Hughes, co-founder and chief product and marketing officer Fiona Roach Canning, co-founder and CTO Tim Joslyn, chief commercial officer David Beresford and group HR director Anna Moore.

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