Paymill bags €10 million investment from Holtzbrinck Ventures and Sunstone Capital

paymill
paymill

paymill

Hot on the heels of news of another round of fresh funding for a German-based company, Paymill, Rocket Internet’s European Stripe clone, has today been boosted by €10 million from Holtzbrinck Ventures (Germany) and Sunstone Capital (Denmark).

Paymill, which is active in 34 countries across Europe and nearby regions since launching in June 2012, gives internet service providers and online stores the ability to integrate common payment methods (particularly card payments) on their websites.

The company charges developers 2.95 per cent and 28 euro cents per transaction (compared to 2.9 per cent and 30 US cents for Stripe).

The new round of investment is expected to further expand Paymill internationally: “We will use the funds to further improve our technical platform and to enhance our customer care. It’s our goal that everyone can accept online payments fast and easily,” said Mark Henkel, CEO of Paymill in a statement.

To date, Paymill has received double-digit million euros in total financing (exact amount yet be disclosed) and it’s the first time that Sunstone Capital has invested in a Rocket-incubated company.

Paymill currently employs 25 staff in Munich with plans to significantly grow the team this year.

For related posts, check out:

Rocket Internet’s Paymill plans English and French rollout
Stripe clone Paymill expands across Europe