KodyPay, a UK-based mobile point of sale app and payment aggregator, announced on Monday it raised £1.8 million through its latest seed funding round.
Founded in 2018, KodyPay describes itself as a new mobile point of sale platform and payment aggregator, enabling businesses to perform all the necessary actions to carry out a standard electronic transaction and accept a multitude of different payment methods using web and app-based technology platform.
“As an Omni-commerce driven platform, KodyPay revolutionises the way we shop safely in a post-COVID society. Its contact-free process can achieve significant savings for both businesses and customers. By removing bulk hardware such as tills and printers, transaction fees can be reduced. Best of all, customers save time without the need to queue. With KodyPay, customers can choose to use e-wallets, pay-later providers, or simply use card payments.”
Post financing, KodyPay reported it welcomes Hank Uberoi, who joins the Board as Chairman. Previously, Uberoi was a partner at Goldman Sachs and the COO at Citadel Investment Group LLC. Most recently, he was the CEO/Executive Chairman/Director at various points in the growth of cross-border payments firm Earthport. CEO and Co-Founder, Yoyo Chang, added:
“Our partnership with Cybersource, a Visa Solution, will allow us to create a positive shift in a very traditional industry. We aim to help merchants to reduce their own carbon footprint. This environmentally conscious message will be particularly appealing to the younger generation as we pave the way for our future.”