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PublicSquare Secures $10M Convertible Note to Boost Payments Business
Slice of Retail Team
August 16, 2024
Key Highlights:
PublicSquare secures $10M convertible note in a private placement.
Investment to fuel expansion of its payments business and marketplace ecosystem.
Payment stack launch expected to process $200M in GMV with a vision for $1B by Christmas 2024.
Source (Business Wire)
Notable Quote:
“This year, we’ve focused on developing our payments business in order to serve our tens of thousands of merchants with best-in-class technology, competitive rates, and a cancel-proof promise. This $10 million convertible note investment will supercharge this initiative and allow us to capitalize on the strong demand we’ve received from our merchants.”
Our Take:
PublicSquare's $10 million convertible note reflects a strategic move to fortify its payments business, ensuring the company can scale quickly to meet growing demand. With the launch of its payment stack and an impressive $200M in GMV under contract, PublicSquare is well-positioned to hit its ambitious target of $1 billion GMV by the 2024 holiday season. This investment underscores the confidence in PublicSquare's marketplace ecosystem, particularly its commitment to offering cancel-proof services that resonate with its customer base valuing life, family, and liberty.