OptioPay, the Germany-based operator of a payment services platform, has received €7m ($7.7m) in a funding round that included strategic investors Nord LB and Commerzbank.
The financial services firms were joined by DvH Ventures, the venture capital vehicle for publisher Dieter von Holtzbrinck, as well as Berlin Ventures and Auden, which revealed its commitment earlier this month. Commerzbank took part through its Main Incubator unit.
The deal valued OptioPay at approximately $16.5m. Auden acquired a 10% equity share and has the option to double its stake within the next 18 months.
Founded in 2013, OptioPay operates a business-to-consumer platform that enables users to convert payments into gift cards with a higher value of 5% to 50% which can be used to buy products from more than 100 partners including e-commerce company Amazon and sportswear producer Adidas.
The seed capital will help the company to continue its expansion efforts.
German government-owned development bank KfW previously participated in a seven-figure seed round for OptioPay alongside private investors. The round received an extension of undisclosed size by Main Incubator in August 2015.