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Money transfer firm Zooz raises $24 million


Zooz, an Israel-based payments platform that works to facilitate cross-border payment acceptance for merchants, announced the close of a $24 million Series C funding round earlier this week.

That brings its total funding to $40.5 million raised over four rounds. Zooz helps merchants maximize their performance by providing a simple platform on which developers can integrate multiple acquirers, digital wallets, and fraud management tools in order to limit the number of false credit card declines, especially among merchants that process international transactions on a regular basis, according to TechCrunch.

Zooz plans to use the funding to accelerate growth, develop new products, launch in new markets, and increase its presence in existing markets. And the company will add sales and tech teams in Berlin and San Francisco to give it a more immediate presence in what it sees as potentially lucrative markets.

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