Clip, empowering merchants to accept all payment methods in Mexico has snagged another US$8 million in funding.
Mexico-based Alta Ventures led the round, joined by new investors American Express Ventures and Sierra Ventures.
Other investors include Angel Ventures Mexico and Mexico Ventures (Fondo de Fondos) and Endeavor Catalyst, the investment arm of the Endeavor Network.
Clip says its product is designed from the ground up to satisfy merchant needs in Emerging Markets. It can offer an incredibly simple solution that really helps merchants increase their sales. For example, with Clip, merchants can offer payments in installments to their clients with more than 18 issuers in Mexico.
Mr. Rohit Bodas from American Express Ventures and Mr. Mark Fernandes from Sierra Ventures will attend Clip’s Board of Directors meetings as non-voting observers.
The company also announced the addition of Julio Gutierrez as a Board Member. Mr. Gutierrez serves on the board of Alsea (ALSEA), operators of brands such as Starbucks and Burger King in LatAm, and on the board of Chedraui, one of Mexico’s largest supermarket chains.
Clip allows any individual or business to take all card payments available in Mexico via its proprietary card reader and Apps for Android devices, iPad and iPhone. With an easy registration process and no upfront fees, Clip levels the playing field for Small and Medium businesses.
Founded in 2011 in San Francisco, Clip is headquartered in Mexico City.
For data, background and forecasts on Clip: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).