Payveris Closes $7M Series D Round
Funding to Further Accelerate Growth and Platform Expansion
CROMWELL, Conn., June 12, 2019: the fastest-growing provider of digital money movement technology to financial institutions, announced the completion of the company’s Series D funding round to accelerate client acquisition, platform innovation and the scale-up of the organization as the company continues its rapid growth.
Silicon Valley-based Mosaik Partners, which led the Series C round, also led the Series D. All other institutional investors in the Series C participated in the Series D, including Black Dragon Capital, Connecticut Innovations and Ironwood Capital. A top 20 credit union joined the round as a strategic investor in Payveris.
“We are delighted that our existing investors and our new strategic partner are convinced the company will maintain its high-growth trajectory,” said Ron Bergamesca, Payveris CEO, “The additional funding will allow us to significantly expand our investment in platform development, organizational infrastructure and sales and marketing initiatives to further solidify our position as the premier provider to progressive financial institutions determined to take control of their digital payments destiny, while simplifying and modernizing their money movement infrastructure.”
David Dame, Payveris’ board chairman commented, “Since Ron and the rest of current executive team joined Payveris, the company has performed at a very high level, now providing innovative payment services to over 240 financial institutions, including the recent signings of a top 100 bank and a top 20 credit union and securing an investment from another top 20 credit union. With the current leadership team, the board is confident the company will continue to gain significant market share.”
Howard Mergelkamp, Managing Partner at Mosaik Partners added, “We led the Series C because of the potential we saw in Payveris. The company’s recent track record of strong performance confirmed our investment thesis and compelled us to also lead the Series D round. We are excited about where the company is heading and look forward to even more success in the future.”
Payveris is the creator of The MoveMoney Platform, an Open API cloud-based platform enabling financial institutions to control, simplify, and extend digital money movement capabilities to any application or device while lowering user experience friction, significantly reducing operating costs and future-proofing the IT investment. Shift from a product-centric digital payments model to a platform-centric model today!