Contracts, Daily News, Payments News -

Venture capital funding for payments on the wane

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.

Series funding stages over 2013 chart image

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.

The post Venture capital funding for payments on the wane appeared first on Payments Cards & Mobile.