3V set for European expansion

DUBLIN-headquartered payments provider 3V has raised €5 million to fund its further expansion into the US and European markets in 2013.

The investment round was led by Atlanta-based TTV Capital, a venture capital firm that specialises in technology-enabled financial services businesses. 3V, which operates in six countries, counts Telefonica, Visa, PayPal and eBay among its clients, and its technology is behind the O2 Money real-time payments system in Ireland for Telefonica.

“The climate isn’t easy out there, but we operate in a space that’s quite hot at the moment,” said 3V chief executive Kieron Guilfoyle. Enterprise Ireland and 3V’s existing investors including Balderton Capital and Atlas Ventures, also participated in the fundraising. 3V, established in 2004, employs 40 in Dublin and also has offices in London, Amsterdam, Madrid and New York.