Payment Nerds has secured a $2 million credit facility from Espresso Capital, giving the merchant services and payment processing company additional non-dilutive capital to expand its technology, sales organization and strategic partnerships.
The financing is designed to provide Payment Nerds with growth capital while preserving its existing equity structure.
Payment Nerds plans to invest the proceeds across sales and marketing, technology infrastructure, payment integrations, merchant services capabilities and strategic hiring.
Founder and CEO Shawn Silver built the company around providing businesses with a more flexible and technology-focused approach to payment processing.
Payment Nerds serves businesses across retail, e-commerce and specialized merchant categories, offering payment acceptance technology, integrations, streamlined onboarding and merchant support.
The financing follows several additions to the company’s sales leadership.
Payment Nerds recently named Jacob Martin Vice President of Sales. Martin brings more than a decade of payments and merchant services experience.
The company also promoted Trae Holthouse to Sales Manager.
Espresso Capital specializes in credit financing for growth-stage technology companies and has provided non-dilutive capital to hundreds of companies since 2009.
KEY QUOTES:
“This partnership with Espresso Capital gives us additional capital and flexibility to invest in the business at an important stage of our growth.”
“We’re focused on expanding our team, strengthening our technology and infrastructure, and continuing to build a company that can scale alongside our merchants and partners.”
Shawn Silver, Founder and CEO of Payment Nerds
