Australian payments company Till Payments has successfully closed an AUD 70 million ($46 million) Series D funding round led by Silva Fortune. The new capital raise follows the $80 million Series C in October, which valued the company at A$500 million ($350 million).
The Series D also comes just weeks after the company decided in January to lay off 120 employees – about 40% of its workforce – as part of a broader reorganization.
“Till’s existing investors have demonstrated their confidence in our plans for the company and our renewed and prudent approach to governance,” said Matt Davey, non-executive director, who joined the company in January as part of the reorganization.
Founded in 2012, Till Payments offers a data-driven end-to-end payments solution for online and brick-and-mortar businesses to hundreds of merchants in 12 countries.
In the past 12 months, the company has grown its transaction volume by 300% and its merchant base by 200%.
Till Payments CEO Shadi Haddad says the company is “focused on sustainable growth and rapidly increasing profitability.”