TLDR:
- Aeropay secures $20 million in Series B funding for A2A payments expansion.
- The funding round was led by Group 11, with participation from Chicago Ventures and Continental Investment Partners.
Article Summary:
Aeropay, a leading provider of Pay-By-Bank solutions for businesses, announced $20 million in Series B financing, led by Group 11, Chicago Ventures, and Continental Investment Partners. The funding comes as Aeropay experiences significant revenue growth, processing over $1 billion in volume annually. The company’s platform utilizes proprietary Pay-By-Bank technology to facilitate faster, affordable, and secure money transfers, achieving cash-flow profitability in Q4 2023. Aeropay plans to use the funding to expand its product offerings, enhance partnerships, and explore new market opportunities across various sectors. The company’s founder and CEO, Daniel Muller, emphasized the need for modernizing payment systems to reduce fees and risks for businesses and customers. Aeropay’s success in account-to-account payment solutions is attributed to its compliance-focused strategy and strategic collaborations with financial institutions.
