Payment orchestration platform Paydock raises £25m Series A
UK-based payment orchestration platform Paydock has secured £25 million in Series A funding from Silverstripe Investment Management.
Founded in 2015, London-based Paydock offers financial institutions and merchants “rapid connectivity” to fintech and payment systems via API, without disrupting the current infrastructure. Paydock claims its platform “substantially” reduces costs, risks and efforts in a merchant’s payment experience.
Paydock claims to process “millions” of monthly payments through its platform. Some of its clients include Commonwealth Bank of Australia, retail giant Coles, and not-for-profit organisations such as the United Nations High Commissioner for Refugees (UNHCR).
Rob Lincolne, founder and CEO of Paydock, says the funding will enable the paytech to accelerate its vision of delivering “the world’s best” orchestration solution, as well as onboard new clients and partners.
“Paydock has developed a powerful platform that offers unparalleled flexibility, security, and reliability,” says Alex Cuppage, partner at Silverstripe. “We believe that Paydock is well positioned to capture a significant share of the growing payment orchestration market.”