The payment startup LaterPay is receiving a five million euro investment. The Munich-based company plans to use the capital, among other things, for expansion into the US.
Read now, but only pay once a certain amount has been collected—many people know LaterPay from online media outlets like Spiegel Online. Premium articles are released there via LaterPay. According to the company, the startup works with a total of 150 online media outlets. There have also been no more rumors for some time about flagship client Spiegel Online planning to leave.
How startup scene reported, the company has now secured an investment of five million euros. The company apparently does not want to name the investors. Since its founding in 2010, the startup has raised a total of 20 million euros in venture capital.
Expansion into the USA targeted
With the new capital, the Munich-based company plans to open an office in New York, among other things. According to startup scene Hal Bailey, former Google business development manager, will be responsible for revenue at the payment startup as Chief Revenue Officer.
