Former Google Wallet Chief Lands $100 Million for Startup Poynt

Poynt Co., a startup that competes with Square Inc., said it raised $100 million to take a bigger chunk out of the multitrillion-dollar payments market.

The company plans to use the new money to expand into markets in Asia, Europe and South America, as well as increase hiring. Investors in the round included Elavon, a unit of U.S. Bancorp, and National Australia Bank Ltd. Previous backers include GV, the venture capital arm of Google parent Alphabet Inc., and Matrix Partners.