French cashless payment startup PayinTech raises €2.5 million

By TechInAsia

French fintech startup PayinTech, a wearable payment solution focusing on the tourism and leisure sector, announced that it has raised €2.5 million. The round was led by Caisse des Dépôts, which invested €2 million, with participation from previous investors Fa Dièse and CapDecisif.

With a contactless chip, PayinTech allows users to pay directly at concerts or events by passing a bracelet or card by a cashier. The startup claims to have over 3.2 users in France and abroad.

PayinTech plans to use the new funding to expand its customer base in France.

First appeared at TechInAsia