Lowenstein Sandler represented Commerce Ventures as lead investor in a $45 million Series B round of funding in Moov, a payment processor that allows developers to embed payment functionality into their software and deliver exceptional user experiences.
The round also included participation from Andreessen Horowitz, Bain Capital Ventures (BCV), Visa, and Sorenson Ventures.
This investment comes after a significant milestone for Moov which became a net new U.S.-licensed Acquiring Processor, Issuer, and Program Manager. Moov makes it easy to accept, store, send, and spend money through a single platform; it handles user onboarding, licensing, program management, and compliance so businesses spend less time decoding payments and more time building for their customers.
Commerce Ventures is a leading venture firm focused on technology innovations in the fintech and commerce ecosystems.
The Lowenstein deal team included Anthony W. Raymundo, William Brannan, Mark P. Kesslen, Judith Rubin, Samy A. Akli, and Oluwaseyi O. Amorin.
