Smile&Pay, the French fintech startup that offers mobile payment terminals to local merchants and professionals, has raised €5 million in a funding round led by Evolem Start, alongside its existing investors comprising business angels and Truffle Capital.
Smile&Pay currently offers three mobile payment terminals tailored to the needs of merchants, which can be delivered within 48 hours and operate independently of banks. The startup aims to democratize e-commerce among French local shops and claims 13,000 clients and over €310 million in transactions since its launch in 2016. Its clients are from various sectors, including local merchants, artisans, restaurants, hotels, healthcare professionals, and associations such as Les Restos du Coeur, La Croix Rouge Française, and Secours Populaires.
The startup plans to use the new funding to become the French leader in payment processing within three years by enhancing its features, such as payment by link and mobile-to-mobile payment, segmenting its offering by activity, and developing its distribution partnerships.
Evolem Start is a French private equity firm that invests in SMEs and innovative startups. Truffle Capital is a French venture capital firm that invests in early-stage technology startups.
With this latest funding round, Smile&Pay is set to accelerate its growth and expand its market share in the French payment processing industry.
