Brazil-based payment processing platform developer Zoop has received $18.3m in funding from mobile commerce group Movile, Reuters has reported.
Zoop has created an online payment platform that enables merchants to process electronic payments wirelessly using point-of-sale (PoS) software adorned with the client’s branding.
Movile plans to introduce Zoop’s technology across its online businesses, beginning with food delivery platform iFood, which has already piloted the system.
The corporate could eventually use Zoop’s payment system to offer its customers a unified payments account, aggregating money they hold with several of its services.
Mobile chipset producer Qualcomm invested $100,000 in Zoop in 2013 through its corporate venturing arm, Qualcomm Ventures, according to media reports. The company’s earlier backers include Riverwood Capital, Avalancha Ventures and Darwin Capital.