The round was led by Queensland Investment Corporation.

PayNearMe, a fast-growing fintech company based in Santa Clara, California, has successfully raised $45 million in Series D funding. The investment round was led by Queensland Investment Corporation (QIC) and saw participation from True Ventures, Costanoa Ventures, August Capital, DNS Capital, Invicta Management, and H. Barton Asset Management.

The funding will be utilized by PayNearMe to accelerate its growth, enhance its innovative payments platform, and deliver even more data-driven value to its clients.

QIC, the leading investor said PayNearMe has the potential to transform the payments industry by enabling clients to access and leverage data as a strategic asset. With this access, PayNearMe clients can create personalized customer experiences, improve operational efficiency, and discover new revenue streams.

According to CEO Danny Shader, the investment will enable the company to allocate additional resources for innovation and meet the rising demand for frictionless payments in new and existing vertical markets. PayNearMe is committed to developing features that enhance the entire payment experience and deliver value to its clients.

PayNearMe’s platform offers a range of payment options, including major digital wallets like Apple Pay, Google Pay, and PayPal, as well as cards, ACH, and cash payments through its proprietary cash network.

Cash payments are accepted at over 40,000 retail locations in the United States, including popular chains like 7-Eleven, Walmart, Family Dollar, Casey’s General Stores, and ACE Cash Express. The company serves a diverse range of industries, including consumer finance, property management, insurance, healthcare, legal services, transportation, iGaming, and sports betting.

Overall, PayNearMe’s successful funding round positions the company to pioneer advancements in digital payments, drive industry-wide transformation, and further improve the payment experience for businesses and customers alike.

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