Powa Technologies, the UK e-commerce and mobile payments firm, has attracted $76 million in an initial investment round, as well as announcing plans to move beyond the mobile point-of-sale (MPoS) market using a more ambitious platform.

The new funds come from an undisclosed investment management fund, thought to be a US firm called the Wellington Fund, according to Techcrunch. Previously, Powa has been funded privately, largely by founder and CEO Dan Wagner (pictured).

The company is looking to hire 250 more staff in the UK (where it currently employs 130), as well as 200 more internationally.

In common with many of its rivals, Powa is eager to move beyond the increasingly commodified mobile-point-of-sale market.

The funds will help build a platform that can accept both online and physical point-of-sale transactions. It is also developing a service called PowaTag which recognises products in images taken by users, and then takes them to a website where they can purchase the same product.

Other MPoS firms are trying to broaden their offering too (although not necessarily with the same services as Powa). For instance, Germany’s SumUp recently told Mobile World Live how it wanted to become a payments hub for small entrepreneurs.

Powa has also announced that George Thaw, a former COO of SAP, is joining as CEO for channels, including the company’s reseller and system integrator businesses.