Tel Aviv based social peer to peer payment platform PayKey has raised $6m in Series A funding led by e.ventures and Gaby Salem of Wharton Asset Management. The financing will be used to further develop PayKey’s mobile payment solutions, which enable bank customers to seamlessly make instant and secure payments on all social networks and messaging apps, such as Facebook’s Messenger, WhatsApp and Twitter.
PayKey's mobile keyboard app bridges the gap between bank applications and social networks, making everyday banking easier and more efficient. PayKey’s unique technology enables banks to support peer to peer transactions just when they are needed most - when their users are engaged in social interactions. Currently, there are more than 2.3 billion active social mobile users, and 1 million new active mobile users are added every day around the world. Initiating a payment transaction right from the social app keeps the payment experience intuitive, contextual and simple without needing to share the details of the recipient's bank account. Users can enjoy instantaneous money transfer capabilities while chatting with friends and family members.