Tech trends

Top 10 mobile payment startups by funding

Janson Wigo


Most people know Square, Venmo and Paypal — the giants of the mobile payment space — but few are aware of mobile payment startups and which trends are receiving the most funding.

Quid, a machine intelligence tool, lets users analyze massive amounts of unstructured data. Below is a Quid network showing all global companies in the space. The colored clusters represent companies that develop similar products, technology and services. Each dot (or node) represents a company.

To understand which startups received the most funding, we moved into the bar chart view. Below are the top 10, along with their funding received. It’s notable that Stripe, in the Payment Processing cluster, is the clear outlier, receiving $290 million in funding. Behind Stripe is iZettle, a point-of-sale service provider occupying the Smart Payment cluster and receiving $187 million. Another note: some clusters are particularly dominant in terms of investments. The Smart Payments cluster has three companies in the Top 10 with a total investment of $271.8 million. Payment Sharing is only comprised of three companies but totals $168 million in funding.

The Top 10

  1. Stripe: Founded in 2011 | $290 million in funding | An online payment company that allows both private individuals and businesses to accept payments over the Internet.

  2. iZettle: Founded in 2010 | $187 million in funding | Offering an easy way to take card payments using mini credit card readers that transform smartphones and tablets into cash registers.

  3. Remitly: Founded in 2011 | $100.25 million in funding | A mobile payments service that enables consumers to make person-to-person international money transfers from the United States.

  4. Paydiant: Founded in 2010 | $49.8 million in funding | Mobile wallet platform that includes mobile payments, loyalty, offers, ATM cash access, and related commerce services.

  5. Ezetap: Founded in 2011 | $35 million in funding | Card reader that can be plugged into any smart device of feature phone used by a retailer.

  6. VendScreen (now USA Technologies): Founded in 2011 | $33.1 million in funding | Acquired by USA technologies in January of 2016— A vending machine retrofit device to combine cashless payments and nutrition label disclosures.

  7. BitPay: Founded in 2010 | $32.7 million in funding | Bitcoin payment processing.

  8. Dwolla: Founded in 2010 | $32.2 million in funding | Provides platforms for bank transfers (i.e. ACH transactions). Use branded or white label APIs to verify bank accounts instantly, transfer payments, keep balances, or route funds directly to bank account and routing numbers.

  9. Movilway: Founded in 2010 | $30 million in funding | An electronic payment distribution platform and a mobile top-up distributor, provides electronic recharge services and payment systems for prepaid mobile phones.

  10. Zenvia: Founded in 2012 | $28 million in funding | Provides various solutions for the mobile services market in Brazil.

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