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Mypinpad raises $13m investment led by South Africa’s Crossfin Holdings

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Mypinpad, a global innovator in mobile card payments acceptance and identity authentication software solutions, has announced an investment round of $13 million led by Crossfin Holdings (Crossfin) to help drive its expansion plans and support Mypinpad’s goal of building out its global payments and authentication SaaS offerings.

Crossfin, a South African-founded fintech group with a portfolio of innovative products will help Mypinpad further benefit from partnerships with other companies within Crossfin’s portfolio, many of which are engaged in areas closely associated with Mypinpad’s activities.

“We are incredibly proud to have secured this investment, especially in the current difficult investment climate,” said Barry Levett, CEO of Mypinpad. “It demonstrates market recognition of our value proposition, successful track record and the innovative solutions we offer. This investment will provide the necessary fuel to accelerate our growth, strengthen our global reach and potentially expand into new verticals.”

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Currently with clients in over 20 different countries, in APAC, EMEA and the Americas, the funds secured will be utilized to further develop Mypinpad’s suite of mobile payments acceptance and authentication solutions, drive technological advancements and expand into new market segments.

Dean Sparrow, CEO and co-founder at Crossfin, says the investment unlocks exciting synergies with the broader Crossfin portfolio. “Barry and his team have built an innovative, scalable business that aligns well with Crossfin’s best-of-breed mPOS and SoftPOS payment solutions and related mobile payment security solutions, enabling us to extend our reach across emerging markets globally.”

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mypinpad’s proprietary and globally patented technology secures and protects the input of sensitive information on touchscreens creating a trusted environment and removes the need for specialised hardware thereby reducing cost and complexity, promotes rapid adoption and leverages the connected capabilities of smart devices.

The firm provides secure payments acceptance and personal authentication solutions using smartphones and tablets.

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The firm has also announced a rebranding effort aimed at better aligning the company’s image with its evolving vision and future expansion plans. The rebranding celebrates the rapid expansion following the company’s merger with SmartPesa last year and reaffirms its commitment to ensuring customer success – helping partners to stay ahead in a fast-changing business environment by providing innovative, scalable and future-proof global payments and authentication SaaS offerings. It also ushers in a new phase in the company’s evolution, following a successful investment round led by Crossfin Holdings.

“We are thrilled to introduce our new brand identity, which truly captures the essence of who we are as a technology company,” says Barry Levett, CEO at Mypinpad. “This rebranding initiative reflects our relentless pursuit of innovation, our dedication to customer success, and our vision for making mobile transactions safe, easy and accessible for businesses of all sizes. We believe that our refreshed identity and messaging will be welcomed by our clients and partners, and better represents our company’s capabilities to deliver exceptional technological solutions globally.”

The rebranding process will be rolled out gradually across all touchpoints, including the company’s website, marketing materials and digital platforms. It will also give a fresh new look to customer-facing user interfaces and backend environments. Mypinpad is committed to ensuring a smooth transition for its customers and partners during this exciting period.

SmartPesa develops payment and agency banking solutions for merchants and banks across the globe, taking care of the tech so they don’t have to. Using an intuitive mobile app and/or card terminal, merchants enjoy a simple unified one-stop tool for accepting smart multi-channel payments online and offline, instant access to transaction histories and automated reconciliations. SmartPesa’s last-mile agency banking solution drives financial inclusion by extending the banking network into rural areas quickly and painlessly. SmartPesa is a Mastercard Start Path alumni company.

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James Musoba
James Musoba
Studying Africa's startup and technology scene. I always look forward to discovering new exciting inventions and vibrant entrepreneurs.

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