ZooZ Lands $1.5 Million For In-App Mobile Payments Solution

Exclusive – ZooZ, not to be confused with ZOOZ Mobile, has raised $1.5 million in funding in a seed round led by lool ventures (yes, that’s really what they’re called).

Other investors that participated in the financing round include Rhodium, Kima Ventures, Orefa Investment, Jaina Capital, A.M. Holdings and private investors Eilon Tirosh and Yuval Tal.

ZooZ offers a comprehensive end-to-end payment solution that lets mobile app developers easily integrate digital payment and checkout options into their Android or iOS apps through an SDK.

The startup claims its payment solution requires only a couple lines of code and minimal development time, but still provides everything that’s necessary for app developers to start accepting in-app payments from end users. Here’s how it works.

It’s worth noting that ZooZ is adamant about the fact that it has built its solution with security and fraud detection in mind, and stores all sensitive data in a PCI-compliant cloud environment.

The ZooZ platform is being rolled out in an initial, six-month beta phase, during which the service will be completely free. After this period, ZooZ will be charging a nominal fee for processing payments.

ZooZ was founded in 2010 by CEO Oren Levy and CTO Ronen Morecki and is based in Israel.