P97 Networks, a startup facilitating mobile payments for gas stations and convenience stores, raised $40M in fresh equity funding led by Portage Ventures.
Incoming funds will enable the firm to pursue its expansion beyond North America, starting with Europe and Asia.
The Houston, Texas-based firm did not disclose the valuation, although it did confirm that it was more than double its previous valuation.
- Per Crunchbase, the firm had secured $69M in funding prior to the current fundraiser.
- It last secured a $40M debt facility from Peak Rock Capital in January 2022.
- Other previous notable backers of the firm include Emerald Ventures, Accenture Ventures, and Fleetcor.
- P97 claims that its payments software is used in 53% of gas stations and convenience stores across the U.S. and Canada.
