Payments fintech Till Payments (Till) has secured a $15 million dollar top up from Afterpay-backed Touch Ventures and strategic European investors.
The boost follows Till’s latest Series C funding round, bringing the total capital raised to $125 million.
Touch Ventures invests in late stage, high growth companies and injected $5 million into the omnichannel payments platform. The venture capital fund was founded by early Afterpay investors and listed on the ASX for $100 million with a share price of 40 cents.
According to Shadi Haddad, CEO at Till Payments, the partnership will accelerate Till’s US, UK and New Zealand expansion plans, pushing the company’s global ambitions further.
“Till has had some big wins recently but with the support of Touch Ventures and the potential to tap into Afterpay’s ecosystem, we’re further assured that we’re adding more fuel to fire our success in international markets,” he said.
Till claims that its focus on merchants will allow local businesses to leverage the Afterpay eco system. The businesses share a focus on the retail, finance and data verticals as well as key business values to target high-growth and scalable initiatives, the company said.
According to Hein Vogel, CEO of Touch Ventures, “Till has grown from strength to strength and looking to scale globally which is aligned with our philosophy of backing Australian entrepreneurs to build global businesses.”
Till’s team has grown by 204 per cent in the last 12 months and today the company announced the appointment of the fintech’s first Chief Technology Officer, Vinay Rao.
Rao’s most recent role was as Head of Merchant Business at Woolworth’s payments platform Wpay. He has also held positions as head of payments at Woolworths, Chief Delivery Manager at ING Direct and non-executive director at eftpos Australia.
In a Linkedin post on his appointment, Rao described Till as a “dynamic company” with a “growth mindset and is customer obsessed.”
“As the CTO, I've got a great challenge to help shape the Technology Strategy and Delivery,” he said.
According to Till, Rao will be Sydney based and will lead Till’s team of engineers and developers in launching a number of new products in 2022.