Atoa, a London, UK-based payments startup, raised a seed funding round of US$6.5m.
The round, which brought the total raised to $8.6m, was led by Valar Ventures, with participation from previous investors Passion Capital, and Leo Capital.
The company intends to use the funds to expand operations and its business reach.
Co-founded by Sid Narayanan (CEO), Cian O’Dowd (COO) and Arun Rajkumar (CTO), Atoa is building a viable card alternative payment method for the UK, using account-to-account payments. In order to pay in-store with Atoa, consumers do not need to download any new mobile application and can simply approve the payment via their existing banking app. Businesses can download the app, securely connect their merchant bank account and begin to take payments after a 5-minute set-up process. They can accept payments via SMS, Pay-by Link or by displaying a QR code on their Atoa App or physical QR stand next to their till. Instore payments can be processed by scanning the merchant QR code, selecting which account users’d like to pay from and approving the amount.
FinSMEs
08/06/2023