LevelUp Raises $9 Million From T-Ventures

Posted Aug 3, 2012

LevelUp is a mobile payment service that spun out of SCVNGR.  LevelUp can be considered a competitor to Square and PayPal.  The company has raised $21 million from T-Ventures, the venture capital subsidiary of Deutsche Telekom.  LevelUp has a QR code pay-by-phone application for consumers and a terminal system for merchants.  LevelUp is used by around 200,000 consumers and accepts payments at over 3,000 locations in 20 U.S. markets.  LevelUp will be using the funding to expand their team, for hiring purposes, and for advertising.