LevelUp closes $50M financing from 3 investors

Mobile payments company LevelUp has completed a $50 million round to continue to grow its business, according to a press release.

Investors participating in this round include long-time partner and investor J.P. Morgan Chase, US Boston and CentroCredit Bank. Chase made an initial investment in LevelUp at the end of 2015. Some aspects of LevelUp have been integrated into Chase Pay.

This funding comes at a time of accelerating growth for LevelUp, which is now used by nearly a million people every month, according to the announcement.

"LevelUp has grown rapidly over the last several years and this funding sets us up to accelerate our growth this year and next," Seth Priebatsch, who "Chief Ninja" at LevelUp, said in a statement. "We're thrilled to have the continued support of our existing investors including Chase and US Boston and great new partners like CentroCredit Bank backing LevelUp."

LevelUp said in the announcement that it will use the new funding to continue to develop its order-ahead capabilities and personalized merchant customer engagement programs.

Topics: In-App Payments, Loyalty Programs, Mobile Marketing, POS, Restaurants

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