The company was last valued at $3.2B in September 2021. Here are the top-line bullets you need to know.
SpotOn, a software and payments processing company, has raised $300M in a Series F. The round drew participation from Dragoneer Investment Group, Andreessen Horowitz, and DST Global, among others.
HOW’S THE COMPANY PERFORMING?
- California-based SpotOn provides payments tech and software to retail and restaurant SMBs.
- It reportedly adds 2K+ businesses to its platform every month.
- Over the past year, it has tripled its restaurant sector revenue.
- SpotOn is backed by a team of 2K employees and has offices in San Francisco, Chicago, Detroit, Denver, Mexico City, and Kraków.
Source: SpotOn
WHY DOES THE MARKET MATTER?
- The global fintech market is expected to reach a value of $324B by 2026, growing at a CAGR of 25.18%, according to Market Data Forecast.
- The fintech market has seen a funding boom in recent years. In 2021, fintech startups raised $132B, accounting for 21% of all venture dollars.
- The global fintech adoption rate stands at 25%, signaling a growth opportunity for providers and first movers.
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