KodyPay raised US$3.25m in funding from angel investors.

KodyPay, a York, UK-based developer of a mobile point of sale app and payment aggregator, raised $3.25 million in funding.

The money was raised from investors including KodyPay’s Chairman, Hank Uberoi (Former Executive Chairman/CEO, Earthport PLC), Paul Rippon (Co-Founder, Monzo Bank),
Adam Knight (Chairman, CoinFloor and BeZero Carbon), Alok Sama (Former President & CFO, SoftBank Group International) and Cognition Foundry.

Proceeds will be used to expand across the UK and release new product features.

KodyPay, founded in 2018 by CEO Yoyo Chang and Jack Howell, provides payment acceptance working with Visa, MasterCard and IBM. Through a single iOS/Android app, the company gives retail and hospitality businesses the ability to accept any payment methods in-person (including leading e-wallets, buy-now-pay-laters & open banking) and offers contact-free checkout experiences, such as order at table & self-checkout. Businesses can sign-up online in a matter of minutes, and access KodyPay using a smartphone or tablet to benefit from low transaction costs instead of using an expensive point-of-sale terminal.

In addition to working with Visa, MasterCard and IBM, KodyPay has already signed up other large multinational partners, including Checkout.com, Elavon, Laybuy, Nuapay and the University of York, to accelerate growth.

KodyPay previously raised £1.8 million from Cognition Foundry and Hank Uberoi.