Swiss mobile payment solution provider Bluecode has received a €20 million investment with the Hopp Family Office leading the round. And that’s Hopp as in Dietmar Hopp, one of the five founders of SAP.
Bluecode reports, “existing long term capital investors, who are all well-known European business and financing figures, are participating in the current investment round”, but did not name them.
The funding is expected to propel further expansion within Germany and Austria. Likewise, Bluecode aims to strengthen is product offering and become the go-to provider for the European banking and commerce sectors.
At the SAP arena in Mannheim, Germany, patrons are offered a cashless option that’s powered by Bluecode. The SAP checkout software for the sports an entertainment venue offers Bluecode by default.
“For us, the importance of supporting the European payment sector is very obvious”, says Daniel Hopp. “It is not sufficient to constantly be talking about the threat that non-European payment providers pose. We have to actively develop viable alternatives. Bluecode does not only make certain that value created in Europe stays in Europe; Bluecode also makes it possible to implement privacy standards within the mobile payment sector that comply with Europe’s understanding of data protection.”