What is Citcon?
Founded in 2015 and headquartered in San Jose, California, Citcon provides a comprehensive mobile payment and commerce solution. The platform is engineered to enable merchants to accept a wide array of QR-based mobile wallets, effectively removing the friction typically associated with cross-border digital payments. By integrating directly into existing merchant point-of-sale and e-commerce systems, Citcon serves as a foundational layer for businesses looking to capture the growing demographic of mobile-first consumers. Its market position is defined by its ability to unify fragmented payment methods into a single, streamlined interface, thereby enhancing conversion rates and operational efficiency for global enterprises.
How much funding has Citcon raised?
Citcon has raised a total of $41.1M across 4 funding rounds:
Series A
$6M
Series B
$5M
Debt
$150K
Series C
$30M
Series A (2018): $6M with participation from TSVC
Series B (2019): $5M led by East West Bank
Debt (2020): $150K supported by PPP
Series C (2021): $30M featuring Sierra Ventures, Sonae IM, Cota Capital, and Norwest Venture Partners
Key Investors in Citcon
Sierra Ventures
A Silicon Valley-based venture capital firm that raises dedicated funds to invest in early-stage technology startups, primarily focusing on enterprise software, infrastructure, and data/AI.
Sonae IM
The technology investment arm of Sonae Group, specializing in retail and telecommunications technology, as well as cybersecurity investments from early to growth stages.
Cota Capital
An investment firm that combines financial capital with deep operational expertise to support early-stage technology companies addressing innovative challenges in the enterprise sector.
What's next for Citcon?
With the infusion of $30M, Citcon is well-positioned to accelerate its product roadmap and expand its footprint in key global markets. The strategic focus will likely center on deepening its integration capabilities with emerging fintech ecosystems and enhancing its cybersecurity infrastructure to meet the demands of large-scale enterprise clients. As the digital wallet landscape continues to evolve, Citcon's ability to maintain its technological edge will be paramount. The company is expected to leverage this capital to scale its engineering teams and pursue aggressive market penetration, ensuring that it remains the preferred partner for merchants navigating the complexities of the modern, mobile-centric payment environment.
See full Citcon company page
