Payleven raises $10m series-D from Seventure et al.

Latvian VC ru-Net, Italian investor B Cinque and MePay, which is backed by Rocket Internet and Phillipines-based mobile network operator Smart e-Money, also participated in the round. According to the company, the latest funding round brings the total amount raised to date to $51m.

French investor Seventure targets companies operating in the areas of software and internet, electronics, telecoms and life sciences. Its last German investment was in February 2015, leading a €4m series-A funding round for Leipzig-based big data company Webdata Solutions.

Previous funding
In August 2012, New Enterprise, Holtzbrinck and ru-Net invested approximately €10m in the first round of funding for Payleven.

Company
Established in 2012, Payleven provides small businesses with the opportunity to accept electronic payments without the need to use proprietary hardware or networks. In order to process cash card and credit card payments, the company has developed a mobile card reader and an application for smartphones and tablets. The firm is based in Berlin, Germany.

People
Payleven – Konstantin Wolff (co-founder and managing director).
Seventure – Wolfgang Krause (venture partner).

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