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Payments heads toward record venture funding year: CB Insights

November 5, 2021

Digital payments companies have been transforming the financial industry in recent years as companies and consumers sought easier, faster payment methods. The COVID-19 pandemic supercharged the trend as companies and consumers increased their use of such tools from home offices and opted for contactless options to avoid spreading the deadly virus.

Among the U.S. payments companies that have raised money so far this year, SpotOn reported a significant haul, landing $300 million in September just months after raising $125 million in June. The San Francisco-based company targets its payments software applications at small and mid-sized restaurant and retail enterprises.

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