Australian payments start-up Verrency has completed a Series A financing round of A$10m ($6.9m) as it targets international expansion.

With the latest capital infusion, the total funding raised by the firm exceeds A$20m.

Verrency is now geared up for a Series B funding round in the second half of this year, as it seeks entry into the US and Singapore.

The firm already inked agreements with SenaHill Partners in the US and Singapore’s SoHo Capital for the expansion.

Verrency founder and CEO David Link said: “We have a strong pipeline of potential contracts in late-stage negotiations in the United States and Asia along with a market that is rapidly awakening in terms of the need to deliver consumer and small-business innovation around the moment of payment.”

Founded three years ago, Verrency enables financial services providers to add new products without replacing legacy infrastructure.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

The payments firm also has partnerships with Australian neobank Volt and Colombia’s Banco Davivienda.

Commenting on the latest funding, Link noted: “This Series A investment of $10 million is a vote of confidence in our technology and leaves us well positioned to continue our global growth, increase R&D and bolster our sales team.

“The customers we have signed agreements with see our technology as a long-term infrastructure play.”