Australian founded and headquartered payments disruptor, Till Payments (Till), has closed its Series C funding round, raising $110 million in private capital. The funding will be used to strengthen Till’s local capabilities, bolster global expansion, and further innovate its cutting-edge technology.
The funding was raised from new and existing investors based in Australia and the US, including Avenir Growth, Woodson Capital, and Akuna Capital. Long-term investor, Australian-based Regal Funds Management, also participated in the round, recognising the success of its earlier investments. Customers with first-hand experience of Till’s unique service proposition and exceptional customer service also invested, a testament to the long- term value and growth in Till’s offering.
Till will use the funding to broaden its reach in international markets, including New Zealand, the United Kingdom, Europe and the United States. In addition to fuelling the company’s global expansion efforts, the investment is set to strengthen Till’s local team and capabilities and accelerate its technology innovation and development efforts towards a simple data-driven payment solution.
Shadi Haddad, CEO of Till Payments, said there was enormous opportunity in the payments sector, with approximately $670 billion worth of payments made in Australia every day1, and this capital injection will help Till remain at the fore of this burgeoning industry.
Payments is a rapidly growing sector globally that is still very much in its infancy. The widespread disruption that has been experienced in the past year or so has urged businesses to call for a revolution in payments – one that’s simple, seamless and considers every consumer touch and data point during the payment experience,” Mr Haddad said.
“Till is here to deliver on that demand. We have evolved through the complex value-chain to become an all-in-one payments provider that is working tirelessly to ensure our products and services not only meet and exceed our customers’ needs, but also provide forward-looking innovations that put them ahead of their competitors.
“This latest funding round will inject resources into our sales, marketing, technology and talent funnel and put us on the front foot as we double down on our international expansion efforts with regional teams. We’re committed to our mission of being an enabler for our customers, our partners and our people all around the world, and this significant milestone will help us accelerate our growth trajectory.”
Till is a high-growth, Aussie founded, global fintech disruptor taking the complexity out of payments with single-source solutions that ensure merchants can accept any payment wherever and whenever their customers shop. The Series C funding follows successful raises in 2019 and 2020, bringing the company’s total investment pool to $145 million.
Partner at Avenir Growth Capital, Jamie Reynolds, commented: “Till is uniquely positioned to be a market leader in the global payments industry with its world-class omni-channel payments platform and merchant-centric approach. We are excited to partner with Till to support their sustainable long-term growth in both the Australian and international markets.”
The business is supported by a well credentialed executive team including Chief Financial Officer, Peter Slater, former Divisional CFO of Mastercard, Chief Revenue Officer, Chris Hicks, Till co-founder and former CEO of SimplePay, Chief Operating Officer, Hadi Haddad, former Group General Manager at Bingo Industries and Fady Daher, former GM & VP Global Commercial at American Express. In the US, Till has appointed seasoned payment industry veteran Tom Tucker as Regional Director to spearhead their expansion initiatives.
This industry expertise is also represented at a Board level with Chairman Greg Miles, former global COO of Scentre Group, and Independent Directors John Banfield, Group CEO BPAY, and Edwina Gilbert, Board Member of Carsales.
As a founder-led business and Australian success story, Till is challenging the one-size-fits- all approach that banks and global processors typically impose on merchants on a global scale.