"Various debt facilities designated to complete key acquisitions, rollout new products, and execute on strategic initiatives" make up the fresh funding, according to the corporation.

Netevia was established in 2018 as the payment solutions division of the international technology and value-added solutions group Net Element. With the help of its suite of payment processing services, over 30,000 businesses in a variety of industries are currently able to accept payments in a number of ways, such as digital wallets, debit and credit cards, and Automated Clearing House (ACH) transactions.

Since opening an office in Mexico City last month, the Miami-based firm has processed $12 billion for merchants, bringing its total workforce to over 150 people.

The fresh capital, according to Netevia CEO Vlad Sadovskiy—who oversaw integrated payments for Net Element for more than eight years—"marks a pivotal moment" for the business as it gets ready for the "next phase of our growth journey."