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Self-Serve Retail Startup MishiPay Completes 43M Funding Round

LONDON -- MishiPay , a retail technology company, has announced the completion of its Series A funding round of $4.3 million. Participants included American Express Ventures, Nauta Capital and United Ventures. Founded in 2015, London-based MishiPay has grown quickly and now provides its scan-pay-leave technology to some of the largest retailers in the world. It's now entering its next growth phase, expanding the scale, speed of integration, and international reach of its mobile self-checkout service. Mi...

September 30, 2019 by Tim Sanford

LONDON -- MishiPay, a retail technology company, has announced the completion of its Series A funding round of $4.3 million. Participants included American Express Ventures, Nauta Capital and United Ventures.

Founded in 2015, London-based MishiPay has grown quickly and now provides its scan-pay-leave technology to some of the largest retailers in the world. It's now entering its next growth phase, expanding the scale, speed of integration, and international reach of its mobile self-checkout service. MishiPay reports that it has already begun generating value for retailers across Europe, including international sporting goods retailer Decathlon and MediaMarkt­Saturn, Europe's largest electronics retailer. MishiPay's service is designed to reduce in-store checkout times and improve the customer experience.

The self-checkout solution allows customers to scan and pay for items using their smartphones, so they need not wait at the checkout. A frictionless shopping experience is a priority for many retailers, the company said. MishiPay is designed to integrate into retailers' existing infrastructure quickly, seamlessly and at much lower cost than hardware-heavy solutions.

"Retailers around the world are under pressure to create an outstanding customer experience," said Julia Huang, managing director at American Express Ventures. "We believe MishiPay is well-positioned to play a key role in the omnichannel retail revolution and are pleased to support the company in its next phase of growth."

"American Express is one of the world's most trusted brands and brings unparalleled knowledge and experience," said MishiPay founder and chief executive Mustafa Khanwala. "We are also delighted to have the support of Nauta Capital once again, and the addition of United Ventures, another great retail-focused VC. We believe we have found investment partners who share our vision for the next stage of our growth as we continue to scale across Europe and into the U.S."

About Tim Sanford

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Tim Sanford is the retired, long-time editor of Vending Times.

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