March 4 (Reuters) - Software developer Mews said onMonday that it had raised $110 million in a funding round led byinvestors including Kinnevik and Goldman Sachs Group ( GS )that valued the company at $1.2 billion.

Other lead investors in the company, which operates in morethan 85 countries, included Revaia, Notion Capital and LGVP.

The company plans to use the funds for global expansion,product development and acquisitions, it said.

Mews reported over $8 billion in gross payments volume,while annualized net revenue surged 60% to $100 million from ayear earlier.

Founded in 2012 by former hoteliers Richard Valtr andMatthijs Welle, the Prague-headquartered company raised $185million in a Series C funding round in December 2022.

(Reporting by Mehnaz Yasmin in Bengaluru; Editing by AnilD'Silva)