Many startups and businesses that develop innovative new products and services seek external investors—either out of financial necessity, or to help increase their exposure. While seeking external investors can supply business owners with the capital they need to develop their products, investors come with expectations.
Although it is logical that investors will provide capital in exchange for designated goals to be met, the goals and vision of investors can sometimes hinder the development of a project or create internal stress within the business.
A shining example of this is Square Inc., a mobile payment processor who raised $440 million dollars from multiple investors and quickly grew to become the most sought after mobile payment processor in the nation. However, if you fast-forward a few years later, Square is still a popular choice for businesses both small and large, but they have not been able to return their investments leaving investors wanting to jump ship.
While Square is frantically meeting with the likes of PayPal, Google, Apple, and eBay in hopes of acquisition, a small but mighty mobile payment processor PayAnywhere has kept their development in-house and has remained a profitable and fast-growing mobile payment processor.
While they may not be the largest mobile payment processor around, PayAnywhere’s growth and success rate are impressive.
And for that very reason, some industry experts project, it just may be the mobile payments company that rules the roost within the next few years.