Israel-based payments platform developer Zooz closed a $24m round yesterday that included Claltech, the local corporate venturing subsidiary of US-based conglomerate Access Industries.
Target Global Ventures led the round, which also featured Fang Fund, iAngels, Kreos Capital, Blumberg Capital, Lool Ventures, Rhodium, XSeed Capital, CampOne Ventures and angel investor Eilon Tirosh.
Zooz has built a tool that can be integrated into a merchant’s infrastructure to optimise transactions conducted in different currencies, helping to ensure international cards are accepted and eliminating cross-border and currency conversion fees in the process.
The funding will be used to support the building of new products, to enter new markets and to strengthen Zooz’s operations in the countries in which it is already present.
Access participated in Zooz’s last round, a $12m series B round led by Blumberg that also included Rhodium, XSeed Capital, CampOne, in July 2014.
Lool, Rhodium, Kima Ventures, Orefa Investment, Jaina Capital and A.M. Holdings were among the investors in the company’s $1.5m seed round in 2011, before XSeed, Lool and Rhodium added $2m in 2013.