Rocket Internet’s Web payments solution Paymill has closed a €10 million round from Holtzbrinck Ventures and Sunstone Capital. The startup, which provides easy integration of card payments on the Web, is already active in 34 countries having only launched in September.
The money will go towards improving Paymill’s technical platform as well as its customer care, as the scramble for market share in the online payments space continues unabated.
That scramble has come about because of the massive potential inherent in such a space (Jack Dorsey, for example, reportedly makes his money through Square rather than Twitter), something recognised by the Samwer brothers who, in addition to Paymill, have also backed BillPay and PayLeven through their investment vehicle Rocket.
Munich-based Paymill, which is generally regarded as a Stripe clone, was founded in June 2012 by CEO Mark Henkel and now boasts a 25-strong staff while Holtzbrinck and Sunstone join Rocket and RI Digital as investors. It gives online stores and service providers the ability to integrate common payment methods – especially card payments – into their websites, with the company pointing towards its simple API, fast onboarding process and comprehensive customer support as reasons for its success so far.
Mark said: “The investments by Holtzbrinck Ventures and Sunstone Capital reinforce our leading innovative position in the European online payment market and will help us to continue our rapid growth… It’s our goal that everyone can accept online payments fast and easily.”