Austrian mobile payment solution raises €12 million

Consumers can use the mobile app at over 18,000 locations across these countries

Austrian mobile payment solution

Austrian mobile payment solution raises €12 million. Source: shutterstock.com

According to Ecommerce News, Bluecode has raised 12 million euros in its latest financing round. European Private venture capitalists, who invested in Bluecode in the autumn of 2018, are investing in this payment solution for iPhones and Android smartphones again.

After reaching €11.2 million of financing in 2018, and gaining €1.9 million this year from Horizon 2020, Bluecode has now secured another investment of €12 million. The company says that it’s one of the biggest fintech investments in Austria in 2019.

Bluecode aims to drive its national and international expansion. For now, the company has only partnered with retailers located in Austria and Germany. Consumers can pay, save money with discounts, vouchers and stamp passes, and store their customer cards with Bluecode.

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
 Christian Pirkner, CEO of Bluecode

The Austrian mobile payment solution plans to create the possibility for European banks to join the Bluecode network. They can then integrate the solution into their banking apps as a mobile payment solution. In addition to that, it wants to increase the number of services it offers, just like Asian mobile payment solutions such as WePay already do. The third thing the money will be used for is the cross-border expansion of Bluecode. It aims to collaborate with leading mobile payment solutions from Europe and further abroad.

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