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Payleven the mobile payments startup originally incubated at Berlin’s Rocket Internet has raised a $10 million growth round from a selection of existing investors. Total raised is now $51m, small fry compared to iZettle's $245m and Squares $600m.
Today’s round brings the total raised to date by Payleven to $51 million, with no valuation being disclosed. This total and the growth round itself may sound like small amounts of money — not least for an e-commerce startup whose margins are thin and based on economies of scale. As a point of comparison, another European rival, iZettle, has raised nearly $245 million; Square before it went public disclosed nearly $600 million in funding. There is definitely an argument — especially these days when you consider Square’s financial situation — for a startup holding down spend, fundraising and valuations, and instead trying to grow slowly and maybe more sensibly. But in any case, a Payleven spokesperson hints there may be another round getting announced soon.
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