Chase joins $50m LevelUp funding round
16 May 2017 | 4471 views | 0
JPMorgan Chase has joined a $50 million funding round for LevelUp, a Boston-based mobile payments service that lets customers order ahead at partner restaurants.
US Boston and CentroCredit Bank also joined the round, the proceeds of which will be used for a hiring blitz, product development and national expansion.
Chase made an initial investment in LevelUp in 2015 and has since integrated the startup's technology into the Chase Pay app for order-ahead functionality.
So far the LevelUp API has been used to power more than 200 apps, while the firm also has its own standalone app and lets partner restaurants embed its technology into their own apps.
This means that the startup now claims to be used by nearly a million people every month and, "chief ninja" Seth Priebatsch says, the new funding "sets us up to accelerate our growth this year and next".