Kuapay Mobile Payment closes $4 million funding round

Source: Kuapay

Today Kuapay announces that it has closed a $4 million round of funding with a private investor. Kuapay intends to put these funds towards further expansion into New York, Europe, and Asia.

"This investment means a lot for us," explains Joaquin Ayuso de Paul, CEO and founder of Kuapay. "With this money we are going to be able to open new offices in regions where there is a huge demand for mobile payments. We will also be able to double our team, which means an even better product, backend, and overall service."

The company is already managing robust sales and engineering operations at its World Headquarters, in Santa Monica, California as well as at its South American base in Santiago, Chile. Expansion into Europe, Asia, and the Eastern Region of the United States is on the horizon. This growth will consist of sales and support operations in New York, Madrid, and Hong Kong and will enable the company to offer its universal e-wallet to even more consumers globally.

Kuapay's founding team reflects the global view that has driven the company since day one. Four of its founders hail from Spain, and one from Chile. Its independent and global nature allows Kuapay to offer the best user experience to customers. Kuapay is not founded by a major banking or retail entity, and therefore has the freedom to provide solutions across all card types and payment platforms.

CEO Ayuso de Paul explains, "Kuapay's back-end architecture allows us to adapt our technology across global platforms and diverse regulatory environments, while still maintaining the most secure environment possible."

Kuapay's global presence was evident in Transbank's announcement at last month's eCommerce day in Santiago, Chile that "[they] will launch a technical pilot with Kuapay, a company based in Santa Monica, California, which will allow payments in shops with the phone via QR codes."

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