Paymill payday: Rocket Internet’s Stripe clone lands $13m to support expansion

Paymill payday: Rocket Internet’s Stripe clone lands $13m to support expansion

Paymill, the Stripe clone started by the Samwer brother’s infamous business incubator Rocket Internet, has raised 10 million euros ($13 million) in funding from Holtzbrinck Ventures and Sunstone Capital.

Paymill basically gives online stores and Internet service providers the ability to integrate common payment methods into their current platforms, particularly card payments, using an API.

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The company charges 0.28 euros for each transaction and a one-time fee of 2.95 percent of the total amount.

That’s about the same pricing as US counterpart Stripe, although the latter recently made some changes to the way it charges customers.

Meanwhile, Paymill is already active in 34 countries across Europe and other regions, and has evidently earmarked a portion of the fresh capital to continue its expansion.

Paymill says it currently employs 25 staff and plans to grow its team significantly in 2013.

Image credit: Thinkstock

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