Transaction Technologies secures £200k from Mercia to launch its games payment platform
The Derby start-up secured the capital from Mercia to finalise its payment platform and expand its team.
Transaction Technologies has engineered a specialist payments platform tailored to the digital games sector. The system enables developers to accept real-money transactions for virtual goods securely.
Derby-based Transaction Technologies has secured £200k in a pre-seed funding round from the MEIF Proof of Concept & Early Stage Fund, managed by Mercia. The capital will be deployed to finalise and launch the company platform alongside expanding the local team.
The fresh funding follows an initial £200k injection from the same regional fund, which enabled the business to construct its core payment infrastructure. The platform now supports standard payment methods and targets the expanding market for in-game digital downloads.
From the founder
"The games business, and especially the highly social world of server-based games, have been growing rapidly for years. We make it easy for developers and server owners to monetise their services, leaving them to concentrate on making the best entertainment."
Nick Gillett
Co-founder at Transaction Technologies
Investor perspective
"Online gaming is an exciting sector that has grown significantly during the global lockdown. Transaction Technologies is filling a gap in the market for a secure and professional payment system. We are pleased to further support the business with this latest investment which will allow it to launch PlayerLands and to capitalise on the favourable market conditions."
Sandy Reid
Deputy Fund Principal, Mercia
Use of funds
- 01Continue product development
- 02Grow the team
Investors
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About the company
Transaction Technologies
Transaction Technologies develops a dedicated payment system for the games industry.