Pollinate secures £60m in growth capital from Royal Bank of Scotland, Mastercard, Motive Partners, and EFM Asset Management to scale its merchant acquiring platform.
The funding round was backed by a consortium of global financial heavyweights to expand the reach of its merchant services technology.
Pollinate is a global software business that partners with banks to help them enhance relationships with their business customers. The company provides a cloud-based toolkit that allows banks to offer a unified marketplace for small and medium-sized enterprises.
Pollinate has raised a £60m growth capital round from a consortium including Royal Bank of Scotland, Mastercard, Motive Partners, and EFM Asset Management. The funds support the international rollout of its merchant acquiring technology, which allows retail banks to offer enhanced digital tools and real-time data integrations to small and medium-sized enterprises.
Conceived in 2017, the company deployed its platform in the UK earlier this year through the launch of Tyl by NatWest. Following this debut, Pollinate is reportedly engaged in advanced discussions with other major financial institutions across international markets.
The investment brings together a coalition of industry leaders aiming to bridge technological innovation with the distribution scale of traditional banks. The platform operates on the Azure cloud, utilising Microsoft data analytics and authentication services.
From the founder
"Retail banks around the world are facing common issues, but they remain the only ones in the payment chain who can connect directly with both merchants and consumers. They are therefore best placed to help SME’s process transactions, support their balance sheets, and grow their businesses, creating a virtuous circle between the bank, merchants, and consumers. As we know consumers increasingly expect a more personalised service from the businesses they interact with, regardless of their size, so at its heart Pollinate is about relationships and growth through connection – our platform enables relationships to be strengthened through fantastic digital experiences, and real-time data processing analytics and integrations."
Al Lukies
CEO and Founder of Pollinate at Pollinate
Investor perspective
"Technology is making our everyday easier and more accessible. For small business owners, it’s critical to separate the potential from the performance. That’s why we’re involved with Pollinate"
Ajay Banga
President and CEO, Mastercard
