Merchant Services platform Pollinate has raised a total of £60mn funding to date.
Pollinate is backed by RBS, Mastercard, Motive Partners and EFM Asset Management.
The company offers an innovative cloudbased platform to wrap around a bank’s legacy payment system. Its first deployment was NatWest’s Tyl system.
The technology is available globally through Azure cloud, using Microsoft’s Big Data and distributed AI platforms.
What does this mean?
The big names in the story are not just investors, but partners of Pollinate. The business also benefits from the experience of top execs from the payments and technology industries. Partnering with banks, the global merchant services company aims to make transaction processing easier and more accessible.
Commenting on the news, CEO and Co-Founder Al Lukies CBE said: “Retail banks around the world are facing common issues, but they remain the only ones in the payment chain who can connect directly with both merchants and consumers… our platform enables relationships to be strengthened through fantastic digital experiences, and real-time data processing analytics and integrations.”