Vibrant, a Danish app that turns Android mobile devices into points of sale, has raised €4 million in a seed round led by byFounders with participation from Luminar Ventures.
Vibrant is taking aim at the 52% of European SMEs that, according to Visa, do not take card payments.
Founded in 2020, the startup says transactions are increasing 70% month-on-month. It will use the funding grow its customer base and push into new markets.
Kasper Krog, CEO, Vibrant, says: "We believe in liberating merchants from the legacy of cash and expensive card machines.
"Mobile devices can act as pocket terminals for any small trader, which is the next chapter in the future of the cashless society."