CommerzVentures invests in online payment service provider Payworks

Commerz­Ven­tures GmbH has inves­ted in Payworks, a provi­der of mobile payment services, as part of a Series B finan­cing round.

Commerz­Ven­tures as well as Visa inves­ted in the company for the first time as main inves­tors. In addi­tion, legacy inves­tors Speed­in­vest and Finparx were also repre­sen­ted again. In total, Payworks raised $14.5 million in new capi­tal from inves­tors for its inter­na­tio­nal growth and inno­va­tion strategy.

Payworks inte­gra­tes mobile payments into apps and card readers. The Munich-based company offers a B2B service that provi­des an easy path to mobile payment (point-of-sale) capa­bi­li­ties. The GmbH was foun­ded in April 2012 by Chris­tian Deger, David Bellem, Simon Eumes and Johan­nes Lechner.

Commerz­Ven­tures GmbH is a wholly owned subsi­diary of Commerz­bank based in Frank­furt. The corpo­rate venture capi­tal company with a focus on finan­cial services invests in young compa­nies that specia­lize in inno­va­tive products, services and tech­no­lo­gies in the FinTech sector.

Advi­sor Commerz­Ven­tures: P+P Pöllath + Partners 
— Dr. Michael Inhes­ter (Part­ner, M&A/Venture Capi­tal, Munich)
— Andreas Kühnert (Asso­ciate, M&A/Venture Capi­tal, Munich)