E-commerce is in for a boost, and it’s fueled by some increased funding for WePay. WePay creates platforms which facilitate online payments with minimal risk, regulatory, and operational challenges. Most importantly, they have managed to cut out the overhead that is often associated with online payment solutions.
They’re embedded in some of the leading sites today, including GoFundMe and FreshBooks.
In an attempt to expand globally, WePay announced that they have raised $40 million to build on their extensive growth. Their lead investors include FTV Capital and Rakuten. With a delivery of 123 percent increase in revenue for Q1 compared to the same time last year, it is clear that WePay is on the winning path with its triple digit growth.
The lead investors will also champion further growth as FTV Capital brings extensive domain expertise in payments and enterprise technology, while Rakuten, the largest e-commerce company in Japan, brings their unique perspective of a global marketplace.
FTV Capital partner Chris Winship will join WePay’s board of directors and Rakuten FinTech Fund managing partner Oskar Miel will join WePay’s Advisory Board.
Chris Winship, partner at FTV Capital, stated that “FTV continues to look for innovative, high growth payment companies to capitalise on the massive opportunities in e-commerce.” With the speed at which WePay is growing, there is no doubt that all their investors are assured of a considerable return on their investment in the near future.
With this new funding, WePay hopes to expand globally, while further extending services in the US and Canada.