What is Citcon?
Founded in 2015 and headquartered in San Jose, California, CITCON operates as a mobile payment and commerce solution provider. The company's core offering enables merchants to seamlessly accept QR-based mobile wallets, both in-store and online. This positions CITCON at the intersection of retail technology and financial services, addressing the increasing consumer demand for convenient and secure digital payment options. The company's focus on QR-based transactions aims to streamline the checkout process for businesses and consumers alike.
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, Norwest Venture Partners, Sonae IM, and Cota Capital
Key Investors in Citcon
Sierra Ventures
Sierra Ventures is a Silicon Valley-based venture capital firm that invests in early-stage technology startups, primarily in Seed and Series A rounds, focusing on enterprise software, infrastructure, data/AI, and frontier tech.
Norwest Venture Partners
Norwest Venture Partners is a global, multi-stage venture capital and growth equity investment firm with offices in Palo Alto, India, and Israel, investing across various technology sectors.
Sonae IM
Sonae IM is the technology investment arm of Sonae Group, focusing on retail and telecommunications technology companies, as well as cybersecurity, with investments ranging from early to growth stages.
What's next for Citcon?
With its recent major strategic investment, Citcon is poised for accelerated growth and market penetration. The company is likely to leverage this capital to enhance its technological infrastructure, expand its merchant network, and potentially explore new geographic markets. Further development of its mobile payment and commerce solutions, focusing on user experience and security, will be critical. The enterprise-level funding suggests a strategic focus on scaling operations and solidifying its competitive advantage in the dynamic fintech sector.
See full Citcon company page
