Phos offers a SoftPoS product that lets merchants accept card payments directly on Android phones and other devices without additional hardware. Its solution is Android-agnostic, affordable, and designed to be simpler to deploy than alternative systems, enabling merchants to download the service onto existing phones and tablets. Phos emphasises compliance and security, citing expertise with payment regulation and standards including PCI DSS. The company has won clients and integrated with partners such as bunq, Stanchion Payments, Tokmatech, Curb and Maxaa. Phos secured €2 million in funding to support growth and is planning to expand into the US and hire additional development staff. The company, founded in 2018, is positioning itself to pursue a Series A later in the year. Phos has developed a software-only PoS that turns any NFC-equipped Android device into a payments terminal, eliminating the need for additional hardware and lowering total cost of ownership. The company says its solution is phone- and bank-agnostic, allowing any bank to act as the acquirer. Phos targets long-tail merchants with a B2B go-to-market through partners such as banks, acquirers, PSPs/ISOs, large merchants, and platform players. The startup plans to use new funding to grow its development team and add features including PIN on Phone, a developer SDK, and an integrated loyalty system. Phos was founded in 2018 and has part of its team based in Bulgaria while operating as a U.K. fintech. The company also positions its product for use cases like market traders, couriers, tradespeople, taxi drivers, and retail staff closing sales on the floor.

Total raised

$4M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2021