Company Adds Even More Fire Power with Key Board and Executive Appointments
Palo Alto, CA – October 22, 2015 – Poynt Co., makers of the world’s first smart terminal, today announced that it has raised $28 million in funding. The Series B round was led by Oak HC/FT, with participation from Stanford-StartX Fund as well as previous investors Matrix Partners, Webb Investment Network, and Nyca Ventures. Fintech and payments experts Ann Lamont, Managing Partner at Oak HC/FT, will join Poynt’s board of directors, and Patricia Kemp, General Partner at Oak HC/FT, will become a board observer.
“Poynt is one of those rare companies that is aligned with the interests and needs of all parties in its ecosystem; it solves multiple merchant, bank, developer, and consumer problems with stellar technology and design, and it benefits from impeccable timing,” said Ms. Lamont. “What Poynt has been able to accomplish, building both hardware and software in the notoriously challenging payments space, is simply incredible.”
Timed for EMV migration, the Poynt Smart Terminal is a multipurpose device that combines the unlimited versatility of mobile with the latest in payments technology to create a future-proof terminal for the connected commerce era. PoyntOS is an open platform that brings the breadth and simplicity of mobile application development to the most ubiquitous business device in history without sacrificing certification, security or reliability.
In addition to funding, Poynt also announced a number of key hires, completing its deeply experienced team. Tony Miranz, former CEO and co-founder of VUDU, a Walmart company, was recently named Poynt’s COO. Aaron Leiba, a former Intel, Google, Apple, and Palm executive, was appointed VP of hardware engineering, and Musaab At-Taras, a former eBay and PayPal executive who most recently served as PayPal’s head of global strategic integrations, has joined Poynt as VP of software development.
“The world has embarked on new era of connected commerce where merchant technology needs to match what consumers carry every day. Poynt is leading the charge,” said Poynt founder and CEO, Osama Bedier. “Through the dedication of our team and the support of our investors, the Poynt Smart Terminal will start shipping this Quarter.”
To learn more about how the Poynt Smart Terminal will change the face of commerce, please visit poynt.com.
Poynt has reimagined the payment terminal as a smart, multipurpose device. With the Smart Payment Terminal and PoyntOS, Poynt helps any business access incredible technology at an affordable price. Founded in 2013 by Google and PayPal veteran Osama Bedier, Poynt is headquartered in Palo Alto, California and is backed by Matrix Partners, Oak HC/FT, Webb Investment Network, Nyca Partners, Google Ventures and other individual investors. Find out more at poynt.com.