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Austrian FinTech Bluecode raises €12 mn for boosting market presence

Austrian mobile payments company, Bluecode has raised €12 million from its existing investor European Private Venture Capitalists, according to news reports. The development follows the company’s fundraise worth €11.2 million in 2018, and another gain of €1.9 million this year from Horizon 2020.

The FinTech states that the fresh flow of funds is expected to assist the company in strengthening its national and international expansion. The company aims to expand its partnerships and is currently affiliated with retailers in Austria and Germany. It allows consumers to pay, save money with discounts, vouchers and stamp passes, and store their customer cards on its platform.

According to Bluecode representatives, the funding will help the company to focus on three major growth areas including enablement of European banks to join the Bluecode network in a few weeks, expansion of their value-added platform and cross-border expansion of their partnerships.

Christian Pirkner, CEO of Bluecode commented, “For many participants in the banking and retail sector, it’s now obvious how their business model is endangered by non-European third-party providers. We want to use the additional funds so that our partners can benefit from our technology even faster and offer their end customers secure payment by smartphone, based on European rules.”

Austria-based Bluecode is a pan-European mobile payment solution for banks and retailers that allows fast, secure, and anonymous payments using mobile devices.

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