Mobile payment platform Verse, which operates from Barcelona and San Francisco, just announced the closure of a $20M investment round. The Series B funding comes just half a year after the company raised over $8M. The fresh financing round was led by the Spark Capital, a venture capital group from the USA that has previously invested in high-growth companies such as Twitter, Slack, Oculus and Barcelona startup TravelPerk. Other investors include eVentures and Greycroft.
The young founders of the fintech startup are looking to use the funds in order to accelerate their growth plans and launch the app outside Europe for the first time with a focus being on the American continent. The first new markets to enjoy the technology, which is already rolled out successfully in 27 European countries, will probably be Brazil, Colombia and Mexico according to co-founder Alex Lopera.
Verse is a mobile application that allows users to send and request money for free. You can register easily with your smartphone and once you link your card with the app you send money to your friends, family and business contacts by simply selecting a name or phone number from your phone contact list. The app is available for both Android and iOS based phones and transactions are completed in less than two business days. Splitting costs with your friends when booking a trip, going out for dinner or sharing a cab was never easier – over 550.000 users are proof of that.
If you want to hear the world domination plans directly from Alex, watch this video:
Of course, Barcinno was keeping tracks on Verse from the beginning. You can read our startup profile article ‘Will Barcelona-Based Verse Be The Whatsapp Of Transactions?’ here. Stay in touch with news on the Barcelona fintech startup by signing up to our Newsletter.