Zooz Nabs $12 Million in New Funding

Zooz, a payment processor and technology provider has announced that it has received $12 million in a new round of investment.

The Tel-Aviv-based startup first came out as an initiative for mobile commerce and marketing, but has pivoted to become an enterprise omni-channel solution for payments acceptance and processing.

The round was led by Blumberg Capital, with participation from XSeed Capital, lool ventures, Rhodium, Access Industries, and Camp One Ventures.

Zooz says that the funding will be used in “creating innovative technology, scale up operations and open new offices.”

On the merchant side, Zooz routes payments through multiple acquirers, called Smart Routing, which cuts down on payments processing costs.

The integration also allows for a consolidation of customer payment details within the payment experience on mobile and desktop, which links back purchase history to the same user regardless of what device they use. This allows for merchants to see an accurate overview of consumer behavior which Zooz says can help increase sales and conversions.

Alon Lifshitz, Partner at Blumberg Capital said, “There is clearly a need for an advanced payment technology that can help businesses stay ahead of their competition through optimization and technology differentiation, and that is where Zooz excels.” He will also be joining the board at Zooz.