Despite a slew of funding rounds for payment industry start-ups over the last few years, venture capital providers are backing away, according to data from CrunchBase. The research firm found that the number of venture-backed payments companies has declined from a high of 59 start-ups in the third quarter of 2013 to just 41 in the second quarter of 2014.
Venture capital funding stages over 2013
Declining interest in funding start-ups is thought to be due to investors realising the complexities of achieving high-scale businesses in what is already an increasingly crowded market. The likes of Square, which was a pioneer in the mPOS market, have yet to make a profit amid rumours that the company will soon put itself up for sale.
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