SAN JOSE — Citcon, a mobile wallet payment provider that connects businesses worldwide, has received $30 million in Series C financing led by Norwest Venture Partners and Cota Capital. Sierra Ventures and Sonae IM also joined the round.
The new funding will support the hiring of additional staff and global expansion that builds on the company’s international presence on four continents.
Founded in 2015, Citcon’s platform enables seamless global commerce at scale by connecting the world’s businesses with more than 100+ mobile wallets, local and alternative payment methods. Citcon integrates with POS and ecommerce systems such as Toshiba, Oracle, Cegid, Shopify and SAP and is currently deployed at more than 30,000 merchants’ sites.
“Citcon enables global commerce at scale by allowing merchants to accept payments by mobile wallet and alternative currencies with the same ease as they process traditional credit card payments today,” said Chuck Huang, CEO and founder at Citcon. “We are honored to have earned the support of incredible investors that will strengthen our efforts to continue driving innovation and global expansion.”
Moving into the final half of 2021, Citcon says its annualized payment volume is more than $1 billion, representing 300%+ year-on-year growth. With the acceleration of cross-border commerce and evolving consumer preferences, Citcon’s offerings strongly resonate with global merchants, as well as domestic companies seeking to serve global customers. Citcon payment solutions are currently deployed at more than 30,000 merchants’ sites and locations, including brands such as L’Oreal, Tumi, Texas Instruments, Revolve, Macy’s, and Panda Express.
Citcon’s global enterprise payments gateway allows merchants to participate in global commerce by enabling secure online or in-store transactions with more than 100 different payment methods, including mobile wallets, local payment schemes, and traditional credit cards — all through one single integration and reconciliation platform. Citcon’s solution integrates a variety of globally popular digital wallet brands including PayPal, Venmo, AliPay, WeChat Pay, as well as buy now pay later services, cryptocurrency, and more.