Swirepay announced the closing of its second round of seed funding of $3.4 million, bringing the total amount raised to $5 million. Following a Seed One funding round – which was led by ICICI Bank and Advantage Partners – this second round of funding was led by The Indus Entrepreneurs (TiE) Angels groups based in Silicon Valley, Boston, and Southern California, with additional participation from Aum Ventures, QPaymentZ, Nivesha Ventures, Nurture Growth Fund, and prominent angel investors.
Swirepay’s AI-based platform seamlessly integrates and orchestrates the various payment systems with bank accounts and enterprise resource planning (ERP) systems, offering a comprehensive solution for enterprises, small businesses, and government organizations in the U.S. and India.
Backed by India’s leading private bank, ICICI Bank, and as a partner with banks in the US, Swirepay is democratizing instant payments for businesses, ensuring secure transactions and automated reconciliation through AI-based accounts receivable and accounts payable capabilities, and bringing together a fractured ecosystem into a single platform.
This latest funding round will scale up sales and marketing efforts, onboard more enterprise customers and small businesses in the U.S., and expand operations across North America and Asia, primarily India. Swirepay also aims to enhance its AI-driven reconciliation platform, further integrating with more banks and financial institutions to optimize customer operations.
This funding will drive the adoption of next-generation instant payment methods, which the U.S. has historically been slower to adopt, including FedNow (U.S. Federal Reserve), RTP (The Clearing House), and Zelle, for B2B and C2B transactions. It will also allow customers to work with payment systems they are already familiar with, including PayPal and Venmo.
Swirepay’s services streamline complex payment orchestration processes and ensure financial accuracy. Its automated reconciliation and end-to-end payment solution eliminate manual errors, enhance compliance, and accelerate transaction processing and bill pay, helping businesses improve cash flow management and customer satisfaction.
With revenue traction and growth in all market segments, Swirepay’s focus for the next year will be to continue building financial partnerships and strengthening its channel relationships. By driving innovation and expanding its market reach, Swirepay is set to revolutionize the way businesses transact and reconcile across the globe.
KEY QUOTES:
“Business-to-business, business-to-individual, and consumer-to-business payments are undergoing a major transition with newer technologies. In this environment, there is a pressing need for an omni-channel solution that includes reconciliation as a service. We aim to be at the forefront of these solutions, supporting banks and financial institutions in their efforts to modernize banking and compete in the fast-changing financial ecosystem.”
– Adithya Murali, Founder and CEO of Swirepay
“TiE Angels is a network of seasoned entrepreneurs and executives who are at the forefront of technology innovation. We leverage the combined expertise of our Angels across high-tech centers to identify innovation-leading companies that have significant customer traction. Adithya and his team have done a great job of delivering a solution that is at the forefront of payment technology.”
– Dr. Anand Jagannathan, Co-chair of TiE Silicon Valley Angels
“Our alliance with Swirepay is transforming real estate operations by streamlining vendor management and expediting payments. By integrating Swirepay, title agencies, underwriters, and other industry professionals can pay vendors instantly, incentivizing faster, higher-priority service. Combined with our AI-driven tools, this partnership ensures greater efficiency, accuracy, and service excellence across the real estate industry.”
– Steve P. Daigle, Sr., Founder of BM4 and Punctual Abstract
