Zooz, a smart payment technology provider, has closed a $12 million funding round. The financing was led by Blumberg Capital, with participation by existing investors including XSeed Capital, lool ventures and Rhodium and new investors Access Industries and Camp One Ventures.
Zooz, a smart payment technology provider, today announced that it has closed a $12 million round of investment. The round was led by Blumberg Capital, with participation by existing investors including XSeed Capital, lool ventures and Rhodium, as well as new investors Access Industries and Camp One Ventures. Zooz will use the funding to continue creating innovative technology, scale up operations and open new offices.
“There is clearly a need for an advanced payment technology that can help businesses stay ahead of their competition through optimization and technology differentiation, and that is where Zooz excels,” said Alon Lifshitz, Partner at Blumberg Capital, who will be joining Zooz as a board member. “We have been very impressed by their innovations and rapid growth in the global payments market.”
Zooz enhances and optimizes the existing payment infrastructure of enterprise-class retailers, enabling them to accept payments efficiently and flexibly for competitive rates across online and in-store channels. Zooz’s Smart Routing solution connects retailers to multiple acquirers and payment methods through a simple integration, resulting in a seamless payment experience across all channels for retailers and their customers.
“We appreciate the confidence of our investors, both new and old, as we continue to forge our leadership position in this developing industry,” said Oren Levy, CEO of Zooz. “This round demonstrates that there is a recognized market need for payment platforms that can help retailers navigate the challenges associated with globalization, omni-channel retail, and coordination between multiple financial institutions.”
Zooz allows retailers to create a personalized user experience – both in-store and online – through the consolidation of consumer data. When a customer payment is made over Zooz’s platform, the payment details are securely stored so that future payments made through different channels can be linked to the original user. This user information provides retailers with essential insights that can be used to create personalized shopping experiences and increase conversion rates.
Zooz has thousands of retail customers worldwide, and is level 1 PCI compliant.
Zooz is a smart payment engine that enables enterprise-class retailers and growing businesses to optimize their payments performance by increasing payment flexibility through connectivity to a network of acquirers and payment methods. Zooz facilitates companies’ access to multiple acquirers and enables quick and easy integration for additional acquirers, granting retailers the flexibility to enter new markets, grow and increase revenues, and switch between payment providers as their business needs evolve. The company’s payment solution complies with all industry security and data protection requirements and regulations, including maintaining level 1 PCI compliance. Founded in 2010, Zooz has thousands of retail customers worldwide and partners with leading payment gateways, processors, and e-wallets to ensure that both users and retailers enjoy full flexibility and the broadest of payment options. For more information, please visit www.zooz.com.
ABOUT BLUMBERG CAPITAL
Blumberg Capital is an early-stage venture capital firm that invests in exceptional entrepreneurs with transformative ideas. We partner with passionate founders to disrupt markets through innovation and build successful companies. Our team has extensive experience collaborating with companies in Enterprise Software, Digital and Social Media, Mobile and Consumer Internet. Our relevant operational expertise and focused network enable us to be bridge-builders, connecting entrepreneurs with partners to drive success. Blumberg Capital is headquartered in San Francisco with team members and advisors in Tel Aviv and New York. For more information, please visit www.blumbergcapital.com.