Grotech Ventures and Route 66 lead $4.2M Series A investment in Payzer
CHARLOTTE, N.C., April 30, 2015 /PRNewswire/ -- Payzer, a mobile and cloud based financial technology platform, today announced a $4.2M Series A financing round led by Grotech Ventures and Route 66 Ventures. The investment will allow the company to accelerate its sales and marketing growth and to expand its product development team.
Payzer, originally founded as Just Push Pay, is the All-in-One Financial tool that helps fleet based businesses such as contractors grow their business by enabling mobile payments, instant loans via mobile devices, easy management of recurring payments, and simplified customer management.
"There's a lot to be excited about at Payzer," said Joe Giordano, Payzer CEO and Founder. "We've built a strong team, our product is proven to deliver real value, and we're acquiring customers rapidly. Now, we've also got great investors. Grotech and Route 66 have complementary backgrounds that will help us manage growth wisely and build a winning strategy in the payments and fintech markets."
"Grotech invests in companies with strong founding teams and significant opportunities for success in large, high-growth markets," said Grotech Ventures' General Partner Don Rainey. "We believe that Payzer is at a pivotal point in its growth trajectory, and are excited about the momentum the company has experienced so far."
"Route 66 is committed to finding winning products and exceptional teams that are focused on financial technology solutions," said Ben Britt, Route 66 Vice President. "Payzer has chosen great markets, built fantastic products and put together a solid team."
Both Rainey and Britt have joined Payzer's Board of Directors as has Charlotte technology investor Mark McDowell of Acta Wireless. Scale Finance of Charlotte assisted with and was a participant in the Series A funding as well.
Prior to this financing, Payzer had received angel investments from several esteemed executives including Tommy McCulley of Prepaid Technologies and Tom McCarthy of Toronto, Canada.
The company is currently hiring both inside business development representatives and LAMP stack developers. Interested parties can email the company at [email protected].
About Payzer
Payzer is the All-in-One Financial Tool that helps contractors grow their business. Payzer's mobile and cloud based platform allows customers to accept credit cards, debit cards, and electronic checks in the field or at the home office with real-time tracking across their organization, provide instant financing up to $55,000 using a mobile phone, tablet, or PC and control purchases by giving employees Visa Debit Purchasing Cards rather than a company credit card. Payzer offers competitive rates for credit and financing and requires no sign-up fee, no contract and no cancellation fees. To register for an account with Payzer, visit www.payzer.com or call 1 866 488 6525.
About Grotech Ventures
Founded in 1984, Grotech Ventures is a leading early investor in high-potential technology companies. Grotech seeks innovative, early-stage investments across the IT landscape and continues to invest and add value throughout the life cycle of each portfolio company. The firm has a strong combination of financial backing, industry relationships, and deep domain and operational expertise to accelerate growth. With more than $1 billion in committed capital, Grotech supports early-stage companies through investments starting at $500,000. For more information, visit: www.grotech.com.
About Route 66 Ventures
Route 66 Ventures are investors driving big ideas. For emerging financial services companies, the firm provides early and growth stage venture capital (VC), growth stage private equity (PE), debt, and liquidity through loan acquisitions. These companies include FinTech disruptors, financial services incumbents, and service providers to incumbents in the financial services space. Our goal is to be the leading global FinServ and FinTech investment firm. We are committed to making life easier for the end-user and determined to help our portfolio companies succeed.
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SOURCE Payzer
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