Boston Mobile Payments Company LevelUp Gets $ From Chase

Looks like Chase is very, very serious about mobile payments for physical retailers.  After first acquiring the tech from retailer owned mobile payments company MCX they then took the next step and acquired the entire company and are now pouring a few bucks in to LevelUp.

A few?  $50M few in total from multiple sources.

LevelUp specializes in quick service restaurant rewards-based mobile payments.

Here is the story:

http://www.xconomy.com/boston/2017/05/16/levelup-bags-50m-from-jpmorgan-chase-others-for-mobile-payments/#

Here is a snippet from the piece:

LevelUp’s story is one of twists and turns and ups and downs. Right now, it looks like the company is on an upswing.

Today the Boston-based mobile payments firm announced a $50 million funding round, which includes $37 million in equity funding and $13 million in debt financing, according to an e-mailed statement attributed to Alex Shuck, LevelUp’s director of marketing and analytics. Investors in this round include earlier backers JPMorgan Chase and U.S. Boston, as well as new investors such as CentroCredit Bank, according to a news release.

Happy Reading,

J.W. Gant