LevelUp Secures $50 Million

Mobile startup LevelUp announced it has raised $50 million in financing. Three investors participated in the round: JPMorgan Chase Bank, GV, and Highland Capital Partners.

LevelUp is an American mobile payment platform that lets users accept mobile payments and engage with customers through loyalty programs. Consumers use their LevelUp accounts to pay with their smart device or web browser, a fast and easy way to pay. Businesses accept transactions for a flat 1.95% fee, enabling cost savings they can pass along to customers.

In its announcement, the company said it is hiring across engineering, marketing, and customer support.