Payconiq International S.A. has just completed a round of financing of €2.2 million, backed by its founders, the SNCI and the Luxembourg State. This additional funding will allow the company to start a new stage of development, both on a national and an international level. The next step relates to, amongst others, the installation of DIGICASH Beacon payment terminals in Luxembourg and a first international project as a mobile payment technology provider.

On 14th May, Patrick Nickels, President of the Société Nationale de Crédit et d’Investissement (SNCI), has signed a loan agreement with Raoul Mulheims, Mike Sergonne and Georges Berscheid, the founders of the DIGICASH project. Thus, they completed a round of financing of 2.2 million euros, which aims at accompanying the company’s new phase of development. “We are of course very happy to benefit from this co-financing”, says Raoul Mulheims, CEO of Payconiq International. “This will enable us to accelerate the development of our activities, both on the Luxembourg and the international markets”.

After having convinced three of Luxembourg’s main financial institutions (BCEE, POST Luxembourg and BIL), soon to be joined by BGL BNP Paribas, to provide the DIGICASH apps to their clients, the company, today, continues to develop the acceptance network in Luxembourg. This is made possible by the deployment of innovative solutions, which aim at considerably improving the user experience. The DIGICASH Beacon pilot project, introduced in January 2014, perfectly illustrates this dynamic. The installation of DIGICASH Beacon payment terminals will become widespread by the end of the year.

On an international level, the role of Payconiq International is one of technology provider for mobile payments. Its high-quality platform and application offer enables its clients and partners to benefit from the company’s expertise, acquired through its solution that has been launched in 2012, and thus also be at the cutting edge of innovation. The products and services are not only suited for banks and payment specialists, but also for wholesalers and telecom operators.

At the time of granting this loan, the SNCI has reminded of its mission of supporting innovative start-up companies. As Mr Nickels points out: “This project demonstrates the SNCI’s financial intervention in innovative projects, carried by young Luxembourgish start-ups. The DIGICASH project is a project with a high technological added value and thus very promising for the development and the diversification of our economy.”

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