Pagos, a payment analysis startup, announced the attraction of $34 million in investments following the results of the Series A funding round.
Source: Pixabay.com
This funding round was led by Arbor Ventures. Also participating in the round were Point 72 Ventures, Infinity Ventures, and Underscore VC.
The startup intends to use the attracted investment funds to expand the engineering team. Also, part of the money will be spent on the development of new corporate products for the platform.
Pagos is used by online brands such as Adobe, Eventbrite, GoFundMe, and Warner Bros. Discover, to transform disparate, hard-to-access data about digital payments into business analytics, more accessible for a full-fledged perception.
Startup tools can be used on top of the existing payment processing infrastructure of enterprises. For example, Peacock provides a dashboard that allows you to view, and analyze payment data between suppliers, channels, and markets and act on them.
Klas Buck, CEO of Pagos, stated that the startup’s platform helps companies understand the data that already exists in their payment environment and act on it, allowing them to better support changing consumer behavior and requirements.
Also, with the help of company tools, can reduce operating costs, increase revenue and mitigate unnecessary friction with customers. The advantage of the Pagos platform is that clients do not have to change their existing payment infrastructures.
The founders of the startup are Braintree and PayPal. The mission of the company is to eliminate inaccurate and incomprehensible payment data, due to which there is a loss of orders, an outflow of customers, and an increase in the total cost of processing transactions. The firm’s products and content are aimed at creating a community for learning and growth in the payments industry.
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