Payments technology provider PayKey has announced that the company has raised $6 million of a planned $10 million Series B financing round. The round was led by Israel-China venture capital fund MizMaa.
PayKey’s technology and solution allows for in-app payments, without requiring the user to leave the app they’re using in order to facilitate the payment.
At the core of PayKey’s social payments solution is its patent pending mobile payment keyboard. The unique keyboard seamlessly integrates with mobile banking applications, enabling users to initiate and complete the transaction without having to leave the social interaction and switch to a different app. PayKey’s white label solution easily integrates on the API level and retains the bank authentication method without compromising the security level.
PayKey’s clients have included leading banking and payments companies including Citibank, Mastercard, Santander, Commerzbank, BBVA, Nationwide, Westpac, and ING Bank.
PayKey co-founder and CEO Daniel Peled said,
In the first half of this year we’ve had unprecedented global interest from financial institutions and investors in our solution, which is now available through Westpac in Australia, Garanti Bank in Turkey, Davivienda in Colombia and Sparebank 1 in Norway, proving our ability to lead in the emerging social banking space.