Mexico-based payment processing service Clip has raised $8m in series A funding from investors including American Express Ventures, the corporate venturing subsidiary of payment services firm American Express.
Venture capital firm Alta Ventures led the round, while Sierra Ventures, Angel Ventures Mexico, Mexico Ventures and Endeavor Catalyst, the investment vehicle of entrepreneurship advocacy organisation Endeavor Catalyst, also invested. Clip has not revealed details about previous funding.
Founded in 2012, Clip produces technology that lets small merchants accept card payments by using smartphones and tablets as terminals. The funding will go towards strengthening Clip’s market position in Mexico.
Rohit Bodas, partner at American Express Ventures, and Sierra Ventures partner Mark Fernandes will join Clip’s board of directors as observers.