The British company is yet to reveal the source of the money, but many reports have speculated that Wellington Management is behind the hefty investment. Now, with a number of new initiatives in the works, Powa requires a number of extra employees for positions that need to be filled immediately at its London headquarters.
Powa provides retailers across the UK with easy-to-use tools that allow them to sell goods online, with key features including payments software and management services. The company has also recently launched mPowa, it first move into the mobile market with an app that allows users to transform their smartphone into a card acceptance device.
The investment comes at the perfect time for British jobseekers, with unemployment rates in the UK still at an all-time high. Prime Minister David Cameron has praised Powa for its latest move, whilst noting the importance of e-commerce for businesses in the country.
He said: "E-commerce is vital to our economic success. One in five of our small businesses export. If we could change that from one in five to one in four we would wipe out our trade deficit at one stroke. That is why this expansion of Powa is such good news - helping British Business increase trade both at home and abroad."