Zooz, an Israeli company that helps merchants connect with multiple payment providers, has raised $24 million in a round led by Target Global.
Founded in 2010, Zooz lets ecommerce companies connect with myriad payment providers, ewallets, banks, fraud management, and other related services. Zooz’s smarts can then analyse the consolidated payment data to give useful insights to merchants.
The company had already raised more than $16 million, including a $2 million round back in 2013 and a $12 million round a year later, so today’s news takes the company’s total funding past the $40 million mark. We’re told that Zooz will use the fresh cash influx to accelerate its growth in new markets, double-down on its existing markets, and build new products.
“As the global payments market continues its exponential growth, Zooz is well-positioned to play an even larger role,” said Shmuel Chafets, general partner of Target Global. “The company’s innovative technology optimizes and simplifies the payments process, meeting a crucial industry need that will only increase.”
Today, Zooz has offices in London, Berlin, and San Francisco, in addition to its native Tel Aviv.