ePayRails Closes Series A Funding Round at $2.45 Million
ePayRails announced a new round of series A funding of $2.45 Million. Aspire Fund Management was the largest investor in the round, investing $2 million along with a consortium of additional private investors who invested the balance of $450 thousand.
“We are excited to expand our reach and portfolio profile through our investment in ePayRails. We believe the management team and their unique approach to solving complexities of B2B commerce gives them a distinct advantage to other legacy systems and firms in the marketplace,” says Kerwyn Valley, Managing Director at Aspire Funds. “ePayRails is taking a dynamic, long-term approach to addressing specific issues all organizations face with respect to cash management.”
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“We are honored to have gained the trust of all of our investors and look forward to putting this capital to work enhancing our solution and driving results,” says Richard Jackman, CEO at ePayRails. “We are laser-focused on developing B2B payments solutions, products, and services that enhance our client’s ability to run their businesses with greater flexibility, utilize optimal payment modalities, and provide a single point of reconciliation with access to data in a way they could not get before.”
This new round of funding will be deployed to:
- Further technological development of the ePayRails Payment Hub
- Expand Sales and Marketing capabilities
- Invest in back-office client support
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