Zooz, an Israeli-based payment technology provider, has raised $24 million. The funding round was led by Target Global Ventures and existing investors, including Blumberg Capital, Seed Capital and CampOne Ventures. The company plans to use the investment to accelerate growth, develop new products, open new markets and boost its presence in existing markets.
Zooz was founded in 2010; IKEA and Groupon are clients. The company received its last funding infusion in 2014, which it used to open offices in London, Berlin and San Francisco.
“As the global payments market continues its exponential growth, Zooz is well positioned to play an even larger role,” said Shmuel Chafets, General Partner of Target Global Ventures in a statement. “The company’s innovative technology optimizes and simplifies the payments process, meeting a crucial industry need that will only increase.”