Australian founded and headquartered payments firm, Till Payments, has finalized its Series C round, securing $110 million in private capital.
The proceeds will be channeled towards strengthening Till’s domestic capabilities, “bolster global expansion, and further innovate its cutting-edge technology,” according to a release.
The announcement also revealed that funding was raised from new and existing investors residing in Australia and the US, including Avenir Growth, Woodson Capital, and Akuna Capital.
The release further noted that long-term investor, Australian-headquartered Regal Funds Management, also took part in the round, “recognizing the success of its earlier investments.”
Customers with experience of Till’s service proposition and good customer service “also invested, a testament to the long-term value and growth in Till’s offering.”
The update further noted that Till will use the capital to “broaden its reach in international markets, including New Zealand, the United Kingdom, Europe and the United States.” In addition to supporting the firm’s expansion efforts, the investment is “set to strengthen Till’s local team and capabilities and accelerate its technology innovation and development efforts towards a simple data-driven payment solution.”
Shadi Haddad, CEO at Till Payments, noted that there’s “tremendous” opportunity in the payments sector, “with approximately $670 billion worth of payments made in Australia every day, and this capital injection will help Till remain at the fore of this burgeoning industry.”
“Payments is a rapidly growing sector globally that is still very much in its infancy. The widespread disruption that has been experienced in the past year or so has urged businesses to call for a revolution in payments – one that’s simple, seamless and considers every consumer touch and data point during the payment experience.”
Haddad added that Till is here to “deliver on that demand.” He also noted that they have “evolved through the complex value-chain to become an all-in-one payments provider that is working tirelessly to ensure our products and services not only meet and exceed our customers’ needs, but also provide forward-looking innovations that put them ahead of their competitors.”
“This latest funding round will inject resources into our sales, marketing, technology and talent funnel and put us on the front foot as we double down on our international expansion efforts with regional teams. We’re committed to our mission of being an enabler for our customers, our partners and our people all around the world, and this significant milestone will help us accelerate our growth trajectory.”
Till’s Series C funding “follows successful raises in 2019 and 2020, bringing the company’s total investment pool to $145 million.”
Partner at Avenir Growth Capital, Jamie Reynolds, said:
“Till is uniquely positioned to be a market leader in the global payments industry with its world-class omni-channel payments platform and merchant-centric approach. We are excited to partner with Till to support their sustainable long-term growth in both the Australian and international markets.”
Establised in 2012, Till’s team of 125 staff is “rapidly growing and headquartered in Australia, with teams in London, Manila and across the US.”
Till currently serves “hundreds of merchants across 12 countries and over 500 cities.”