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E-commerce growth prompts VCs to back payment solutions

23 October 2012 15:36
By Niels Valkering

This summer we reported on the impressive jump in VC funding pouring into European Internet shops. Simultaneously, online and mobile payments companies became increasingly attractive to investors.

Since 2003, annual deal activity for providers of tools and services to enable payments has hovered around 10 investments. But in 2011 the number of investments surged to 25 in total. In the first three quarters of 2012, deal activity jumped up to 31 payment software investments in Europe. This is approaching the level of the full year 2001 when 38 deals were recorded.

This month deal activity has continued. For example, France-based mobile and web-based payment account operator PayTop reported a €2.1 million investment from Truffle Capital. Targeting fast money transfers, the company’s Internet money transfer service Flouss.com provides instant money transfers abroad for a flat fee of €8 per transaction. After money transfers, PayTop plans to expand its range of new financial services (credit cards, small office/home office equipment in payment terminals, etc.)

Avance Pay, an Austrian company specialized on mobile payment and ticketing solutions, secured a Series A financing round this month. Funding came from the Business Angel Fund HBABG. Avance Pay builds NFC-based payment and transaction solutions.

Irish electronic payments provider 3V Transaction Services also announced a funding round this month. Its €5 million in Series B round was led by financial services technologies investor TTV Capital. Enterprise Ireland also participated, as well as the company’s existing investors such as Balderton Capital and Atlas Ventures. 3V has developed payment platform technologies to allow mobile operators and online retailers to offer payment features and functions to customers. The platform combines mobile, card and web-based technologies into one solution for both issuing and acquiring payment applications.

Other enabling technologies are also hot among Europe’s VCs. Watch this space as we will soon report on e-commerce software deals! If you can't wait: email research@tornado-insider.com for more information about Tornado Insider´s research services and data products.



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