With Arbor Ventures serving as the round’s lead investor, Point 72 Ventures, Infinity Ventures, and Underscore VC also participated. Infinity Ventures, Point 72 Ventures, and Underscore VC led the business’s $10 million seed round in 2021.
The new funding will expand the Pagos engineering team and enhance the platform’s enterprise product suite of Parrot, Peacock, Canary, Toucan, and Loon. Pagos enables businesses to maximize their income, cut payment expenses, and reduce fraud.
The Pagos platform, which analyses more than 1 billion transactions annually, is trusted by many of the biggest online companies in the world, including Adobe, Eventbrite, GoFundMe, and Warner Bros.
Payment infrastructure has never been more critical, as it is anticipated that by 2027, global digital payments will generate $14.79 trillion in revenue.
However, as payment technology has grown in importance, the costs and complexities that come with it have also increased. As a result, many businesses are missing out on significant revenue opportunities and incurring high payment acceptance costs, which is a worrying reality given the ongoing state of the economy.
Pagos turns disparate, hard-to-access digital payments data into clear, actionable business insights
Pagos is a 2021-founded company that transforms dispersed, challenging-to-access digital payments data into understandable, helpful business insights. Pagos is led by CEO Klas Bäck.
Every business that engages in online sales or billing can utilize the platform to increase income without changing its current payment stack.
“Payments are becoming a critical performance driver for businesses of all sizes and Pagos offers unique payments and data intelligence platform that not only helps merchants better understand their existing payments infrastructure but also offers a suite of tools to deliver on the insights it generates,” said Klas Bäck, co-founder and CEO of Pagos.
The startup assists businesses in comprehending and using the data already present in their payment environment.
Companies can better meet shifting consumer demands and behavior without altering their current payment infrastructure, lower operational costs, boost revenue, and lessen needless customer friction.
A collection of composable payments intelligence and action tools from Pagos have been released; they may be added to enterprises’ current payment processing infrastructure.
The startup has attracted interest from online retailers and the businesses that help them, including billing engines, acquirers, payment service providers, payment orchestration platforms, fraud suppliers, and acquirers.