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Pollinate in talks on $50 million fund raise

Pollinate in talks on $50 million fund raise

Pollinate, a merchant acquriring startup founded by former Monitise chief Alastair Lukies, is in talks to raise $50 million in new funding.

Sky News has learnt that Pollinate is in advanced negotiations with blue-chip investors and is expected to announce the conclusion of its fundraising talks in the coming weeks.

Pollinate offers a cloud-based technology platform for banks that is intended to compete with the likes of WordlPay, offering a merchant-friendly experience which includes payments, business management, marketing connectivity with consumers and charitable giving.

National Australia Bank bought a stake in the firm last year as part of a multi-year deployment deal. NAB is the second bank to take up the firm's technology platform, following RBS which has rolled out the service under the Tyl brand.

NAB joined NatWest, Mastercard, EFM Asset Management and Motive Partners as an investor in Pollinate, bringing the total amount raised to £70m.

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