Payment Labs, a global fintech leader specializing in payment solutions, announced the closing of a $3.25 million oversubscribed seed funding round. The round was led by Aperture Venture Capital, with participation from Capital Eleven, ESPMX, and other investors.
This company aims to simplify complex payment processes for high-growth sectors, including sports, esports, and the creator economy. And it signifies the increasing market demand for Payment Labs’ purpose-built SaaS platform, which enables businesses to manage international payments seamlessly, including transactions in over 150 currencies across more than 180 countries.
Payment Labs offers a comprehensive, API-driven platform that ensures rapid and secure transactions for both pay-ins and payouts. The platform also integrates tax and regulatory compliance, payment tracking, reporting tools, and supports multiple payment methods. This infusion of capital will expedite the company’s mission to streamline and automate payment processes for enterprises, offering customized solutions such as royalties, revenue sharing, and business services that are typically not available through conventional platforms.
With an impressive client roster that includes Microsoft, SEGA, X Games, The Snow League, Arnold Sports, AVP, and others, Payment Labs has processed in excess of $50 million and established a reputation as a leading fintech provider capable of simplifying complex payment procedures through industry-specific compliance and dedicated support.
This funding round coincides with the recent appointment of Paul Brewer, a former revenue leader at The Sporting News, Rival, and ESL, as Payment Labs’ Executive Vice President of Sales & Sports Partnerships. This strategic hire underscores Payment Labs’ commitment to expanding its presence within the sports industry and consolidating its position in the sector.
KEY QUOTES:
“In esports, I became very familiar with the international nature of competitions, the compliance and regulatory issues that those create, the need to track down at times hundreds of individual payees, and more. Those lessons translated directly to Payment Labs’ work in sports and other industries, where we’ve found success in eliminating similar pain points with frictionless solutions. Now, we’re looking forward to expanding those offerings and scaling our team to continue to make payments faster, easier, and compliant.”
Han Park, CEO, Payment Labs
“The Payment Labs leadership team fits our ideal founder profile – which we call Contrarian Technocrat – in terms of their ability to rapidly go from vision to value. Together we envision massive upside with evolving industry trends in global sports competitions, NIL, and the creator economy.”
Garnet Heraman, General Partner of Aperture VC
