Paytia closes £1.2mn pre-series A seed funding round led by Bloc Ventures
By Megha Bhattacharya
Telephone payment compliance service provider Paytia today completed a £1.2 million pre-series A seed investment round, led by Bloc Ventures (Bloc), the venture capital company focused on early-stage European deep technology investment. The investment is expected to enable the company to scale its commercial and technical teams as well as deliver the roadmap of additional features and services to complement the existing core product offering.
Southampton-based Paytia allows customers to be protected and remain in control of their card data during any Customer Not Present payment transaction. The company’s cloud-native platform aims to provide businesses with a scalable and affordable means to take CNP payments from customers in full compliance of PCI-DSS standards and payment and identity regulations.
Curtis Nash, CEO of Paytia, commented, “We are delighted to be joining the Bloc Ventures portfolio. Bloc’s team has unparalleled expertise in deep technology, and we are convinced it is the right partner to support us on the next stage of this journey. Our technology has the ability to radically lower the high cost of entry that is prevalent in the telephone payment segment, and with Bloc’s financial and strategic support we are confident that we can build on the strong momentum we have generated over the last four years.”
Paytia delivers its automated service in 52 countries with short deployment times, easy integration and the provision of a foundation for rapid innovation introduction.
David Leftley, co-Founder and CTO of Bloc Ventures, added, “Paytia is precisely the sort of innovative and exciting deep tech business we enjoy partnering with. The team has significant commercial and technical experience in the payments space, including a previous successful start-up exit. By offering a cloud-based, multi-tenanted global solution, Paytia is disrupting an industry that has high growth potential and we are incredibly excited about its future plans.”
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