Smart payment technology provider Zooz has closed a $12 million financing round, led by Blumberg Capital, with participation by existing investors including XSeed Capital, lool ventures and Rhodium, and new investors Access Industries and Camp One Ventures. Zooz said it will use the funds to continue development, scale up operations and open new offices.
Blumberg Capital Partner Alon Lifshitz said, "There is clearly a need for an advanced payment technology that can help businesses stay ahead of their competition through optimization and technology differentiation, and that is where Zooz excels." Lishitz is joining Zooz's board.
Zooz added that it enhances and optimizes the existing payment infrastructure of enterprise-class retailers, enabling them to accept payments efficiently and flexibly for competitive rates across online and in-store channels.
Zooz CEO Oren Levy said, "This round demonstrates that there is a recognized market need for payment platforms that can help retailers navigate the challenges associated with globalization, omni-channel retail, and coordination between multiple financial institutions."
Levy and CTO Ronen Morecki founded the company in 2010. Headquartered in New York, the company's R&D center is in Ra'anana.
Published by Globes [online], Israel business news - www.globes-online.com - on July 17, 2014
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