back Back

FinTech Aeropay raises $20m in Series B Financing

By Delisha Fernandes

May 17, 2024

  • A2A payment
  • Aeropay
  • Fintech news
Share

Aeropay

Aeropay, a provider of Pay-By-Bank solutions for businesses, has announced $20 million in Series B financing. Los Angeles-based FinTech venture capital firm Group 11 led the round, with participation from Chicago Ventures and Continental Investment Partners.

Aeropay’s platform seamlessly connects bank accounts using Aerosync, a homegrown bank aggregator that the company also announced today. The platform enables customisable integrations via a full suite of open APIs. The commercial impact for businesses is significant, with industry-high approval rates while minimising return and fraud risk.

“Payments in most verticals operate on archaic systems filled with excessive fees and risks,” said Aeropay Founder and CEO Daniel Muller. “We’ve built a bank-driven payments network that protects businesses against fraud, saves them money, and gives their customers an easy way to pay. Put simply, we are building the next-generation payments network.”

Aeropay has become an account-to-account (A2A) payment solutions through a “compliance-first” strategy focused on collaborating with banks, partners, and regulatory counterparts. The company experienced early success in highly regulated industries and is now expanding into new markets such as financial services, wellness, utilities, QSR and property management. Additionally, the new funds will be used to develop new product offerings, enhance strategic partnerships and explore greenfield opportunities.

“For years, we’ve searched for a company advanced enough to solve the pains and inefficiencies of the card payment market, arguably the last bastion of the traditional financial services industry,” said Dovi Frances, Founding Partner of Group 11. “Aeropay has tackled the most complex technological and compliance challenges, making them the most likely player to seize upon this massive addressable market.”

Previous Article

May 17, 2024

Mastercard, Standard Chartered, Mox & Libeara to support tokenised assets

Read More
Next Article

May 17, 2024

FinTech Focus: Catch latest developments of the week

Read More






IBSi Daily News Analysis

cybersecurity,

June 20, 2024

A2A payment

Why predictive AI is a critical necessity in the field of cybersecurity

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

GSB partners with cash deposit platform Flagstone International

Read More

June 19, 2024

Aspen Digital gets approval for financial services operations in the Middle East

Read More

June 19, 2024

5 Spend Management Platforms to optimize your business finances

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023