US fintech PayNearMe secures $45m in Series D Funding led by Australia's Queensland Investment Corporation

PayNearMe, a fast-growing US fintech company radically improving the consumer payment experience, has announced it has closed $45 million in Series D funding led by Queensland Investment Corporation (QIC), with participation from True Ventures, Costanoa Ventures, August Capital, DNS Capital, Invicta Management and H. Barton Asset Management.

PayNearMe will use the funds to accelerate its growth, further develop its innovative payments platform, and create even more data-driven value for its clients.

“We’ve been impressed with PayNearMe’s performance and breakout success,” Matt Diestel, Partner, QIC, said. “Payments data is the next emerging opportunity for businesses, and PayNearMe is enabling its clients to access that data and leverage it as a strategic asset. The company’s innovation is extremely powerful and will, no doubt, transform the payments industry.”

With access to data, PayNearMe clients can create hyper-personalized experiences for their customers, increase operational efficiency and uncover new revenue streams. PayNearMe is focused on creating more value for its clients and partners, while expanding its offering into new vertical markets.

“Our growth has continued to accelerate as we serve the needs of more and larger clients,” said CEO Danny Shader, PayNearMe. “This investment enables us to deploy additional resources to increase the rate of innovation for our clients, allowing us to support the increasing demand for frictionless payments in new and existing vertical markets by developing features that deliver value across the full payment experience.”