Barcelona-based peer-to-peer payments service Verse has raised $8.3m in a Series A round of funding.
The capital comes from Spark Capital, e.ventures and Greycroft Partners.
Verse’s app connects to users’ cards, enabling them to send or request money from their phone contacts.
Established last year when founders Dario Nieuwenhuis, Borja Rossell and Alex Lopera where just 20 the company counts more than 500,000 downloads.
It previously picked up $1.4m in seed round from angel investors.
Verse competes with German startup Cookies and French outfit Lydia in Europe.
PayPal owned peer-to-peer payments app Venmo dominates the space in the US market where it saw more than $3.2bn in transactions pass through the service in Q1 alone.
Banks are now preparing to take on the startups with Chase, Citi and Bank of America preparing to launch their own version Zelle next year.
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