Fintech company PayNearMe picks up $45m Series D

• Other investors were True Ventures, Costanoa Ventures, August Capital, DNS Capital, Invicta Management and H. Barton Asset Management
• PayNearMe will use the funds to accelerate its growth and further develop its payments platform
• Based in Australia, QIC has A$100 billion in assets under management, as of March 31, 2023

Santa Clara, California-based PayNearMe, a fintech company, has secured $45 million in Series D funding.

Queensland Investment Corporation led the round with participation from True Ventures, Costanoa Ventures, August Capital, DNS Capital, Invicta Management and H. Barton Asset Management.

PayNearMe will use the funds to accelerate its growth and further develop its payments platform.

“We’ve been impressed with PayNearMe’s performance and breakout success,” Matt Diestel, a partner at QIC, said in a statement. “Payments data is the next emerging opportunity for businesses, and PayNearMe is enabling its clients to access that data and leverage it as a strategic asset. The company’s innovation is extremely powerful and will, no doubt, transform the payments industry.”

Based in Australia, QIC has A$100 billion in assets under management, as of March 31, 2023.