Clip, a POS solution designed specifically for the Mexican market, announced Tuesday that it has raised roughly $1.5 million in funding to serve this potentially lucrative market share, according to VentureBeat.
Adolfo Babatz, co-founder of the San Francisco and Mexico City-based company, told the source that currently “a merchant in Mexico has to go through more than 35 steps to get a [POS] terminal for reading cards” before noting that his solution “cuts that process to two simple steps.”
The capital was provided by investors such as Karl Mehta, ACCION, Alta Ventures and 500 Startups, according to the media outlet. Babatz said that his company eventually plans to expand into the U.S.
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