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Meawallet is proud to announce the closing of its pre-series A round

MeaWallet is proud to announce that last week we closed our pre-series A round of 26 Million NOK ($3 Million).This is an important milestone in MeaWallet’s history following its acquisition by IdeKapital and management in late 2018 and spent the last 2 years growing its product portfolio and customer base. During the last 24 months we grew our recurring revenues by nearly 300% and our customer base grew from 7 to 70. We saw the first projects in Australia and Latin America and we have established 15 reseller/distribution partnerships.

“Today I would describe us as a two-year-old startup, that inherited a well-developed platform and highly qualified technical team, and we are now raising fresh capital to invest in our new product MeaPay, a software-based contactless point of sale system (SoftPos) that makes it possible for any mobile phone to accept contactless payments – replacing traditional payment terminals”, says Nuno Sitima, CEO MeaWallet.

Rune Holen, partner at Idekapital (the Lead Investor)has great faith in the investment. "The existing business is in itself profitable now, and justifies the valuation as it is today, but if MeaPay develops as we hope, it can be many times better", according to the investor.

This is where the fun starts, and we will work hard to make our investors, founders, CEO and colleagues proud. Stay tuned for more updates and learn more about our SoftPos initiative here

 

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