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Irish payment processor 3V raises €5M in Series B funding

Providers of mobile payment services continue to be a focus for venture capital worldwide. Today, 3V, a Dublin, Ireland-based payment provider, announced it has completed a Series B round of funding worth €5 million ($6.5 million).

The funding was led by Atlanta-based TTV Capital and included existing 3V investors Balderton Capital and Atlas Ventures. The company said funding will go toward expanding services globally.

"This additional funding will allow us to scale our business to meet the growing needs of mobile operators and online retailers as they seek to enter the payments market across the globe," said 3V CEO Kieron Guilfoyle in a statement. "It will also help underpin our position as a leading innovator in payment platform development."

The platform provided by 3V gives non-financial institutions like mobile network operators and online retailers the ability to offer payment services to their customers. Non-FIs can use 3V to offer mobile money services including person-to-person money transfers and NFC payments.

3V operates in six countries now. Companies using 3V's solutions include UK wireless carrier O2, card brand Visa, and electronic payment provider PayPal, 3V said.

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