- Payveris, a company that developed an open API cloud-based MoveMoney Platform, announced it raised $7 million
Payveris announced it has raised $7 million to finance the continued growth and expansion of its highly secure digital payment and money movement platforms. There are more than 240 financial institutions and fintech companies using the company’s platform.
Founded in 2011, Payveris has grown into a market leading that enables financial institutions to simplify and innovate their digital payments delivery systems while also reducing operating costs. And its cloud-based software platform allows customers of banks and credit unions to move their money using smartphones, PCs, and other handheld technology almost instantly.
“I’m so very proud of the faith and trust the industry has put in Payveris, its leadership team and unique money movement platform. When we founded the company, we wanted to solve some of the most significant issues faced by the financial industry and to help an industry we are a part of and care deeply about. With accelerated market acceptance and additional funding, we are well positioned for the future,” said Louis Hernandez, Jr — the founder and managing director of Black Dragon Capital, the principal founder of Payveris, and a member of the company’s board of directors.
How does it work? Payveris’ open API cloud-based MoveMoney Platform product enables financial institutions to control and extend digital money movement capabilities to any application/device while lowering user experience friction and significantly reducing operating costs and future-proofing the IT investment.
“We are pleased with the continued progress and momentum of Payveris and are happy to see continued strong support from investors. The company is well positioned for future growth,” added Payveris chairman David Dame.
Payveris’ investor base includes Mosaik Partners (Series D lead investor), Connecticut Innovations, and Advantage Capital.
“I’m excited and humbled at the support we enjoy from our growing client base and investors to continue to allow us to lead the industry innovation in our open architecture software. Our cloud-based, real-time and intelligent payment platform is rapidly becoming the industry standard and allowing our clients to compete and win. We are grateful for the continued financial support of our investors,” noted Payveris CEO Ron Bergamesca.