Become an InsiderSan Francisco-based payments startup SpotOn Transact has raised a $60 million Series C funding round from Twitter backers DST Global.
"We're very proud of how we, as a business and as individuals, have carried ourselves during this period," RJ Horsley, president at SpotOn Transact, told Business Insider in an interview. "There was no playbook for the Covid situation but we've stuck by our team and our values."San Francisco-based payments startup SpotOn Transact has raised $60 million from Twitter backer DST Global during the coronavirus without a formal pitch deck.
The company plans to use its funding to continue to supporting medium-sized businesses, which it claims are poorly served by payments companies. During the COVID-19 pandemic SpotOn has expanded into helping small businesses offer contactless solutions and also acquired waitlist provider SeatNinja. The company's prior investors include former Twitter executives such as ex-CEO Dick Costolo, ex-COO Adam Bain, and David Rivinus through their investment and advisory firm 01 Advisors. Other investors include Dragoneer Investment Group, Franklin Templeton, and EPIQ Capital Group.
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