iBoxPay Funding, Investors & Competitors

iBoxPay has raised $110M across 2 funding rounds, most recently a $100M Series D in January 2018.

Last iBoxPay funding round

$100M

Series D · Jan 2018

Cumulative funding iBoxPay raised

$110M

across 2 funding rounds

Key investors in iBoxPay

  • GSR Ventures
  • Atomico
  • CBC Capital
  • Buhuo Ventures
  • Orchid Asia Group Management
  • Essential Capital
  • SMIT Holdings

iBoxPay Overview

About iBoxPay

iBoxPay is a Shenzhen-headquartered mobile payment provider developed by Shenzhen Iboxpay Information Technology Corporation Limited. Compliant with UnionPay standards, it delivers secure online and offline transactions through an audio encryption card reader connected to smartphone headphone jacks. Users download the app for registration, select services, and swipe UnionPay cards anywhere, with authorization features enabling peer-assisted payments.


Founded

2011

HQ

ChinaShenzhen

Status

Privately held

Customer focus

B2B

Revenue model

Commission

iBoxPay Funding History

iBoxPay has raised a total of $110M across 2 funding rounds.

iBoxPay's first fundraising round was a $10M Series B in July 2013. The most recent completed round was a $100M Series D in January 2018.

iBoxPay funding rounds

iBoxPay funding rounds
DateStageInvestorsRaisedDeal Summary
Jan 2018Series DBuhuo Ventures; CBC Capital; Essential Capital; GSR Ventures; Orchid Asia Group Management$100M-
Jul 2013Series BGSR Ventures (lead); SMIT Holdings; Atomico$10MiBoxPay was a mobile payments company providing a Square-like solution in China. The company operated a mobile point-of-sale (mPOS) platform featuring RFID readers, barcode scanners, and secure payment functions. iBoxPay was notable as the first company to receive security accreditation from China UnionPay and the Banking Card Test Center for handset POS machines, meeting national financial security standards. In July 2013, iBoxPay closed a $10 million Series B financing round led by SMIT, with participation from GSR Ventures and Atomico. By the time of this funding, the platform had processed more than 1 million transactions with a turnover of 1 billion yuan. SMIT Corporation, one of the investors, acquired a 17.96% stake in iBoxPay for $6.0 million in July 2013 as part of its broader expansion into the mobile payment market.

Who has invested in iBoxPay?

7 investors have backed iBoxPay across its funding rounds, including GSR Ventures, Atomico, CBC Capital, Buhuo Ventures, Orchid Asia Group Management and Essential Capital.

Lead investors include GSR Ventures.


iBoxPay Investors

Investors in iBoxPay by funding rounds participated
InvestorHQRoundsRoleFirst check
GSR VenturesUnited StatesSan Francisco, CA2LeadJul 2013
Buhuo VenturesChinaBeijing1ParticipantJan 2018
CBC CapitalChinaBeijing1ParticipantJan 2018
Essential CapitalUnited StatesNew York City, NY1ParticipantJan 2018
SMIT HoldingsHong KongHong Kong1ParticipantJul 2013

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Investments by iBoxPay

iBoxPay has invested in 1 company to date.

Latest investment by iBoxPay was on June 26th 2018. iBoxPay invested in IPS in their $38M Undisclosed stage round.


Latest Investments by iBoxPay

IPS
Description
IPS is a Shanghai-headquartered payment gateway processing online transactions for credit cards, Alipay, WeChat Pay, and bank transfers, serving 600,000 merchants in China and Southeast Asia. Founded in 2000, it handles 20 million users daily with ERP integrations and cross-border clearing via UnionPay. IPS provides risk management consulting and settlement services compliant with PCI DSS standards.
HQ CountryChina
HQ City
Shanghai
Deal Date26 Jun 2018
RoundUndisclosed stage
Raised$38M
Investors-
Valuationundisclosed
EV/Revenue
EV/EBITDA

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iBoxPay Competitors

iBoxPay competitors include listed companies like Block, PayPal, Adyen and Global Payments, and private ones like Stripe and Ant Group.

Public and private companies comparable to iBoxPay
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
StripeUnited StatesSan Francisco, CAPrivate$6.9B-$159B23.0x
Ant GroupChinaHangzhouPrivate$25B-$79B3.2x
BlockUnited StatesUnited StatesPublicly listed$24B$2.2B$46B1.6x
PayPalUnited StatesUnited StatesPublicly listed$33B$7.2B$45B1.4x
AdyenNetherlandsNetherlandsPublicly listed$3B$1.4B$33B6.3x
Global PaymentsUnited StatesUnited StatesPublicly listed$7.7B$3.2B$23B3.6x

iBoxPay Public Comps

iBoxPay is still privately-owned, but its public comps include Block, PayPal, Adyen, Global Payments, Kaspi.kz, Paytm, Edenred, Nexi, Paymentus and GMO Payment Gateway.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Block$24B$2.2B1.7x1.6x18.6x9.4x
PayPal$33B$7.2B1.4x1.4x6.6x6.9x
Adyen$3B$1.4B6.5x6.3x13.7x11.9x
Global Payments$7.7B$3.2B5.4x3.6x13.1x7.8x
Kaspi.kz$9B$3.2B2.0x2.0x5.9x5.3x
Paytm$854M$41M13.8x11.8x288.1x119.6x
Edenred$3.4B$1.3B2.8x2.8x7.7x6.5x
Nexi$7.2B($2.3B)0.6x1.0x(1.9x)2.0x

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Common questions about iBoxPay

When was iBoxPay founded?iBoxPay was founded in 2011.
Where is iBoxPay headquartered?iBoxPay is headquartered in Shenzhen, China.
Is iBoxPay publicly listed?No, iBoxPay is a private, VC-backed company.
How much funding has iBoxPay raised?iBoxPay has raised $110M across 2 funding rounds.
What was iBoxPay's last funding round?iBoxPay's last funding round was a $100M Series D in January 2018.
Who are iBoxPay's investors?iBoxPay's investors include GSR Ventures, Buhuo Ventures, CBC Capital, Essential Capital, SMIT Holdings, Orchid Asia Group Management and Atomico.
Which companies are comparable to iBoxPay?Companies comparable to iBoxPay include Stripe, Ant Group, Block, PayPal, Adyen and Global Payments.
How many companies has iBoxPay invested in?iBoxPay has invested in 1 company, including IPS.
What was iBoxPay's last investment?In June 2018, iBoxPay invested in IPS's $38M undisclosed-stage round.

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