More Samwer cloning news: Paymill raises € 10 million

07 Jan, 2013

Another Rocket Internet payment startup gets funding. This time, Paymill raises € 10 million from Holtzbrinck Ventures and Sunstone Capital, Silicon Allee reports this morning (it doesn’t name a source and there’s no news release on the site of either Paymill or the VC’s).

Paymill is basically a Stripe clone - it offers an API that makes it possible for any website owner to accept credit card payments within 48 hours (on average). Pricing is very transparent: Paymill gets a cut of 2,95 % of the transaction amount plus a fixed € 0.28 per transaction.

Paymill launched in Germany in August 2012 and rolled out in Europe in October. It says it’s currently active in 34 countries.

Paymill is not the only payments startup that the Samwers are betting on.

With Payleven, the Samwer brothers had already cloned Jack Dorsey’s Square. With Payleven (and with Square), merchants can accept credit card payments by attaching a free dongle to their iPad or iPhone. Critics call it a “not so radical” improvement to payments, since it’s essentially still a system that builds on top of the credit card industry.

(According to Klarna deputy CEO Niklas Adalbarth whom we interviewed recently, Square is not even a huge moneymaker.)

Payleven raised $ 12 million in March 2012, also from Holtzbrinck Ventures (with New Enterprise Associates and ru-Net).

Update: we wrote in an earlier version that they raised $ 10 million, instead of € 10 million.

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Raf Weverbergh

Editor of whiteboard. Raf Weverbergh was a magazine journalist whose work appeared in magazines like Rolling Stone, Playboy, Mail on Sunday, Publico and South China Morning Post. He is the co-founder of FINN, a corporate communications agency where he advises startups and multinationals on their PR and Mustr, the easiest media database for PR professionals. You can contact him on Twitter, Linkedin or Skype (rafweverbergh).

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